Varnum represented Dillman & Upton, a 110-year-old full-service home improvement center based in Rochester, Michigan, in its recent sale to Trenton, Michigan-based Mans Lumber and Millwork. The deal creates the state’s largest family-owned provider of lumber and millwork supplies, with over $150 million in annual revenue and 230 employees at five showrooms throughout the metro Detroit area.
Varnum represented Dillman & Upton on all aspects of the transaction, including negotiating the purchase agreement and other transaction documents and advising on employment, financing and other aspects of the transaction. The Varnum M&A team, led by John Titley and including Tim Gordon and Amy Yan, worked closely with the Dillman & Upton management and ownership teams in connection with the negotiation and execution of the definitive documents.
Under terms of the deal, the company retained all 60 employees and kept former co-owners on as general manager and sales managers. The Dillman & Upton team will continue to serve customers from their retail store, design showroom, and lumberyard.