Publicly-listed company relocating its HQ from Atlanta to Raleigh
An Atlanta-based building supplies company is moving its headquarters to Raleigh.
BMC Stock Holdings — a company that was created when Atlanta-based Building Materials Holding Corp. bought Raleigh-based Stock Building Supply — said all of its executives would be moving to an office in Raleigh by the end of September.
The move comes more than three years after the merger of the two companies, which is one of the largest distributors of lumber and building materials in the U.S., was completed. The deal was valued at $1.5 billion at the time it was announced, The News & Observer reported.
BMC revealed the move in a filing with the U.S. Securities and Exchange Commission on Tuesday. It was reported earlier by the Atlanta Business Chronicle.
When the merger was first announced executives said BMC would keep its headquarters in Atlanta, while its main operating center would stay in Raleigh, The News & Observer reported. In fact, BMC’s Raleigh office is far bigger than its Atlanta counterpart, employing around 200 people compared to around 25 in Atlanta, BMC spokeswoman Carey Phelps said.
The official headquarters will now be located on Arco Corporate Drive in Northwest Raleigh, which the company is already using.
The headquarters relocation comes as the company also announces a new chief executive. BMC, in the same securities filing, said David Flitman will be the company’s new CEO, replacing Dave Keltner, who had been interim president and CEO since the beginning of the year.
Flitman, who will be moving to Raleigh from Richmond, Va., was previously the CEO of Performance Foodservice, a food distribution company.
The office of the CEO is the only one that will be moving from Atlanta to Raleigh as part of the HQ relocation, Phelps said.
In fact, most of the company’s C-suite — including the chief financial officer, the head of human resources and most of the IT department — were already in Raleigh, which made moving the CEO’s office to Raleigh make more sense, Phelps added.
This story was originally published August 28, 2018 at 7:33 PM.