Home Depot sells HD Supply (2007)
Home Depot sold its HD Supply professional distribution arm for $8.5 billion to a consortium led by Bain Capital and Carlyle. The deal closed weeks before the housing market peaked. Management said the company would refocus on the retail core.
Home Depot used the proceeds for share buybacks. HD Supply ran into trouble as the housing crash hit and its new owners wrote down most of their equity.
HD Supply eventually returned to public markets in 2013 and was bought back by Home Depot in 2020 for $8 billion, the start of the current pro-channel rebuild.
Home Depot exited pro distribution in 2007, then spent the next two decades buying its way back in. SRS and GMS are the latest steps in that reversal.
