LMC Announces Expansion by Adding Manufactured Housing Buyers Group (MHBG) ‘an Association of Independently Managed Manufactured Housing and Modular Housing Producers;’ plus MHVille Markets
Construction of manufactured housing obviously requires building materials. LMC has announced an expansion by adding the Manufactured Housing Buyers Group (MHBG) which is described as ‘an Association of Independently Managed Manufactured Housing and Modular Housing Producers.’ According to a media release linked from X (formerly Twitter) and posted in Part I below is information from the LMC website. Per their website: “Lumbermens Merchandising Corporation, or LMC, is America’s leading forest products and building materials buying group, owned by independent lumber, and building material dealers. LMC dealers are united in their purchasing, creating a strong foundation that supports the growth of unique supplier relationships and purchasing opportunities.” Also per LMC: “More than 400 companies with over 1,800 locations in all 50 states and the Bahamas. Our membership includes traditional Pro and DIY lumberyards, kitchen and bath showrooms, truss and wall panel plants, modular home and post frame manufacturers, millwork shops, and commercial packaging companies. Together, they represent more than $24 billion in combined retail sales.” That same source says: “In joining LMC, you gain access to our long tenured, experienced purchasing team that will help you improve your bottom line and overall margins. As a LMC co-op member, you get our market intelligence, sharply negotiated purchasing programs, access to new products, business tools, and networking opportunities with the absolute best in the business.” According to their video, posted in Part II below, LMC is largest lumber materials cooperative in the industry. The by line in the press release post states the author of the article that follows is Alexa DiGiovanni.
Part I
Manufactured Housing Buyers Group joins LMC
LMC, the leading Forest Products and Building Materials Buying Group in the US, announced today that MHBG (“Manufactured Housing Buyers Group”), an association of independently managed Manufactured Housing and Modular Housing Producers, is joining LMC. This combination marks a significant milestone in the pursuit of enhancing purchasing power and leveraging collective resources for the mutual benefit of all the cooperative’s members.
A new division will be created at LMC, called the Modular Building Division, to support this Manufactured housing channel. The team at MHBG will join the LMC Team in this new division. By aligning with LMC, it provides MHBG members with an expanded product line opportunity as well as access to the services LMC provides, in addition to preserving the purchasing strengths MHBG has with its current product focus. This strategic partnership underscores the commitment of LMC to empowering its members with enhanced procurement solutions, thereby driving cost efficiencies, and fostering sustainable growth with diversification.
Paul Ryan, LMC President and CEO stated “This is a great opportunity for both organizations. The MHBG members will form the core of our new Modular Building Division, along with certain existing LMC members. This will strengthen our business in this market segment and will improve our collective purchasing power for all LMC members. We welcome the MHBG members, the team, and their supplier partners as we work to drive opportunity and growth for everyone.”
“We are extremely excited to announce our partnership with LMC,” said David Jessup, Chairman of MHBG and Owner of Jessup Housing located in Waco Texas. “This collaboration represents a pivotal moment for our members, as it enables us to amplify our purchasing capabilities and deliver greater value through access to premium suppliers, favorable pricing, and innovative procurement strategies.”
Jay Wilson, MHBG’s Chief Negotiator, added, “LMC is a very strong fit for our members, who are very independent minded entrepreneurs. I’m personally honored to go to work with the LMC team to create an environment for our members that allows them to compete at the highest levels with large scale enterprise companies.”
With shared values of collaboration, innovation, and excellence, this partnership signals a united effort to navigate evolving market dynamics, mitigate supply chain risks, and capitalize on emerging opportunities.”
Part II – Additional Information with More MHProNews Analysis and Commentary
From the LMC.net website (Lumbermens Merchandising Corporation, or LMC) is the following information.
THE LMC COMMUNITY
LMC was founded by owners of family businesses and for the most part that remains the same today with many LMC Dealers being run by third, fourth and even fifth generations. Each of these family businesses has strong roots in their communities and are part of the larger LMC Community, visiting each other’s yards, sharing best practices, and networking at LMC events.
Since 1935 LMC has developed long term relationships with the highest quality lumber mills and America’s most desired manufacturer brands. One supplier had this to say: “LMC is clearly head and shoulders above the rest in terms of the quality of its members. If you join LMC it’s like going to a top rated college versus a not so top rated. Text books might be the same but your classmates and professors are different.”
LMC also has a strong track record for recruiting and retaining devoted and hardworking talent. More than 51 percent of the LMC team has been with the company for 15 years or more. The company culture is one of integrity, knowledge, and innovative solutions providing LMC Dealers added value every day.”
Independent producers of HUD Code manufactured housing, modular, and other units working together to save on construction costs is not new. Various buyers’ groups have operated in the manufactured home industry for years.
This recently announced move (4.11.2024) is a potential signal that at least some manufactured home independents want to remain so and aren’t looking to be gobbled up by one of the Big Three at the Manufactured Housing Institute (MHI). MHProNews plans to monitor and report as deemed warranted. ##
Part III – Our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.
This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report, so that investors can see at glance the type of topics may have influenced other investors. Thus, our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines.
The macro market moves graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.
In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that may be impacting manufactured housing connected investing.
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Notice: MHProNews invites the firms named in these reports to respond to any concerns about possibly inaccurate information via email that identifies the concern and offers evidence that sheds a different light on the topic discussed. That said, until 5.9.2024, neither MHI nor most MHI publicly traded ‘insider brands’ have done so. They’ve been repeatedly invited to do so, including but not limited to an outreach on Dec 7, 2o23 and Feb 25, 2024.
