GREENVILLE, S.C. — New South Construction Supply LLC, a distributor of concrete and masonry construction products to commercial and residential general contractors and subcontractors across the Southeast, announced the Nov. 1 acquisition of Malone Steel Corporation, based in Ponte Vedra Beach, Florida.
With this acquisition, the combined company will provide a one-stop shop for concrete and masonry construction customers in the North and Central Florida markets.
Malone Steel will continue to be known as the market leader in their space and will operate as New South Construction Supply-Ponte Vedra. Jeff Malone, president of Malone Steel, will remain with the organization and will focus on providing best in class sales and service to Malone’s customer base as well as to New South customers. Malone will also continue to oversee the day-to-day operations of the business.
Malone Steel has been providing exceptional service to contractors throughout the North Florida market for almost 30 years, and there are significant cultural similarities between the companies.
“We share the same core values of providing best in class service to our customers, providing significant growth opportunities to our associates, and delivering exceptional value," said New South CEO Jim Sobeck.
“Together, we are confident we will provide a great platform of growth for our associates, more opportunities for our vendor partners, and most importantly – deliver even more value to our customers," said New South COO and EVP Abhi Singh.
“When we decided to sell our business, we were committed to finding a partner with the right culture, and one that was committed to taking care of our customers, as well as our employees," Malone said. "Once we met the New South team, it was clear that they were the perfect fit for us.”
With a total of 11 locations from North Carolina to Florida, this addition solidifies the company’s position in the North and Central Florida markets by enhancing New South’s fabricated rebar capabilities, establishing a Florida based tilt-up rental yard, and allowing Malone’s established customer base to have a one-stop shop for all concrete and masonry products.