Star Equity announces acquisition of Big Lake Lumber

Star Equity announced it has completed the acquisition of Big Lake Lumber, a Minneapolis-based building supply center and lumber yard, effective October 31, 2023. Big Lake will be integrated into Glenbrook Building Supply, one of the businesses in Star’s Construction division. “We are excited to announce this important transaction for Star and Glenbrook,” said Rick Coleman, Star’s CEO. “This complementary bolt-on establishes Glenbrook as a regional player in the twin cities metro area and expands its client base. Furthermore, the accretive transaction immediately diversifies Glenbrook’s revenue mix by adding more single-family residential business and presents opportunities for margin synergies going forward – both of which we expect to generate substantial value for Star shareholders.” Following the acquisition of Big Lake, Star will remain composed of two divisions: Construction and Investments. Big Lake Lumber will be rebranded as a new location within Glenbrook. Star will continue to pursue its growth strategy as a diversified holding company through both organic growth and acquisitions.