[M&A]
Turner Supply Acquires Millworks & Supply
Turner Supply, an independent industrial distributor, recently announced the acquisition of Millworks & Supply, a Savannah, Georgia-based provider of maintenance, repair and operations (MRO) products and solutions.
Founded in 1997 by Jack Smith and Dan Davenport, Millworks & Supply earned a reputation for its face-to-face customer service and solutions. Following Dan Davenport’s retirement, Jim Coryell joined Jack Smith as co-owner in 2024.
“Millworks & Supply has built a strong reputation through responsive, relationship-driven service, which closely aligns with how we serve our customers at Turner Supply,” said Chip Schramm, president and CEO of Turner Supply. “We are excited to welcome Jim, Jack, and their team and to build on what they have established by combining their local expertise with Turner Supply’s broader products, resources, and capabilities. Together, we look forward to creating even more value for customers across Coastal Georgia and South Carolina.”
Officials for Turner Supply said the acquisition strengthens the company’s presence in Savannah, expanding its ability to serve customers across Coastal Georgia and South Carolina.
Millworks & Supply will operate as Turner Supply, becoming the company’s tenth stocking location and sixth acquisition since 2019.
“We’re extremely excited to become part of an organization that sees industrial supply through the same lens that we do. Our customers can expect the same level of service, quality products, and timely solutions they’ve always relied on,” said Jim Coryell, co-owner of Millworks & Supply. “By joining Turner Supply, we’ll be able to offer an even broader range of products and solutions while continuing to grow our business, expand our team, and maintain the responsiveness and personal service that have always defined Millworks & Supply.”
Vytex Acquires Vinyl Kraft, Expanding Manufacturing Presence
Officials for Vytex LLC, a manufacturer of premium vinyl replacement windows and patio doors, recently announced the company’s acquisition of Vinyl Kraft, an Ohio-based manufacturer of vinyl doors and windows serving the residential replacement and remodeling industry.
The acquisition expands Vytex’s manufacturing presence into the Midwest.
Vinyl Kraft will continue operating independently under its established brand, leadership and business model, ensuring continuity for its customers, employees and partners.
“Vinyl Kraft has built an outstanding company with a reputation for quality products, exceptional service, and strong customer relationships,” said Adam Weinrub, president and CEO of Vytex. “We’re excited to welcome the Vinyl Kraft team to the Vytex family while preserving the identity and values that have made the company successful. This investment reflects our long-term commitment to strengthening American manufacturing and supporting continued growth for both organizations.”
Founded in 1988 and headquartered in Laurel, Maryland, Vytex serves professional home improvement companies throughout the Eastern United States. Vinyl Kraft was founded in 1991 and is headquartered in New Boston, Ohio.
“This marks an exciting new chapter for Vinyl Kraft,” said Ryan Rolfe, president of Vinyl Kraft. “Joining the Vytex family provides additional resources to support our continued growth while allowing us to remain focused on the products, service, and customer relationships that have defined our company for more than three decades. We’re excited about the opportunities ahead and look forward to continuing to serve our customers with the same quality and commitment they’ve come to expect.”
Officials said the acquisition positions both companies for continued investment and long-term growth while allowing each organization to remain focused on serving its respective customers and markets.
[CRIME]
Fatal Shooting Rocks Ohio Lumberyard
Carter Lumber in Mason, Ohio, was the scene of a fatal shooting last Wednesday, according to local news reports. Sources indicate that emergency personnel arrived at the company’s door manufacturing facility shortly after 1 p.m., and that 34-year-old David Cohen, of Hamilton, Ohio, was arrested.
Multiple news agencies indicate that Cohen has been charged with aggravated murder in connection with the shooting of 29-year-old Vincent Stoetzel.
Cohen is reported to have targeted Stoetzel, a father of four, and shot him more than 20 times.
Leadership at Carter Lumber issued a statement via social media:
“Carter Lumber is deeply saddened to confirm that one of our employees died today following a shooting at our door manufacturing facility in Mason, Ohio. Law enforcement responded immediately and remains on scene. We are fully cooperating with the ongoing investigation and are providing every assistance possible to the authorities. Because the investigation is active and out of respect for those affected, we are unable to provide additional details at this time. Our deepest condolences are with our employee’s family, loved ones, and coworkers during this incredibly difficult time. We are focused on supporting our employees and everyone impacted by this tragic event.”
[HOUSING]
New Forecasts Signal Shift in Housing Demand
For the past decade, a housing shortage in the United States has supported strong forecasts for single-family construction. Driven by household formation among millennials and a construction slowdown following the 2008 financial crisis, the homebuilding industry has generally assumed that demand would continue to outpace supply. A recent report produced by analysts with the Mortgage Bankers Association now suggests that trend could be coming to an end. According to the report, the “housing shortage framework” may no longer accurately describe the years ahead.
According to a June 2026 whitepaper from the MBA, slowing demographic growth and elevated construction activity are pushing the market toward a potential oversupply. For those in the door and window industry, that shift could signal a transition to a market in which remodeling becomes more critical than new-home construction. “If construction remains elevated, supply growth could outpace demand growth, pushing home prices lower,” the MBA warned in its report.
Following the 2008 financial crisis, the national housing shortage was estimated at between 1.5 million and 7.3 million units—a deficit that was exacerbated by the pandemic and historically low mortgage rates. Builders responded by ramping up construction, but by 2025, conditions began to change, MBA analysts suggested. As interest rates rose, rental vacancy rates climbed to 7.3%, and for-sale inventories in some markets rose by 30% compared to the prior year, the association reported. MBA forecasts that home price growth will slow to just 1% this year and remain flat over the next two years. Meanwhile, “The demographic foundation underpinning housing demand is shifting in ways that have not yet fully registered in market forecasts or policy conversations,” the report suggested.
The primary driver of this shift is a fundamental change in U.S. demographics, analysts said, adding that household formation is expected to slow over the next decade “due to population aging, low fertility rates, smaller younger adult cohorts and reduced immigration.”
While millennials drove the last decade’s boom, the following cohort, Gen Z, is smaller. Projections from the Congressional Budget Office suggest that, without positive net immigration, the U.S. population could stop growing as soon as the early 2030s.
Economists at the Fenestration and Glazing Industry Alliance’s (FGIA) Virtual Summer Summit voiced similar concerns, while highlighting specific challenges for building product manufacturers. Robert Dietz, chief economist for the National Association of Home Builders (NAHB), said the economy is facing slowing growth, with a 40% probability of a recession over the next three quarters. “To be clear, a probability of 20% is normal, so this is somewhat elevated,” Dietz said. “Energy prices have sparked consumer inflation,” he added.
The economy started 2025 slowly, and “uncertainty around tariffs toward the end of last year did not help,” Dietz said. While the housing deficit is narrowing, affordability challenges persist due to elevated interest rates and consumer debt, he suggested. Construction costs remain a significant hurdle, driven by higher diesel and gas prices. While lumber prices have remained roughly flat for the past few years, Dietz warned of potential price spikes due to increased tariffs on Canadian lumber.
Despite the cooling of the new residential market, experts see silver linings for the door and window industry. Remodeling is gaining market share and showing solid growth, Dietz said. As the existing housing stock ages and homeowners opt to stay in place longer, the demand for replacement fenestration products is expected to remain robust.
Additionally, “There will be a solid demand for housing during the second half of the decade due to the aging population,” he suggested.
MBA’s report warned that if construction activity remains at its current elevated levels, the industry faces a growing risk of oversupply. Falling prices for single-family and multifamily housing could erode homeowner equity and reduce the volume of new mortgage originations, further cooling the market for new homes, analysts suggested.
If the association’s predictions prove accurate, door and window companies’ success in the latter half of the decade will likely depend on capturing more of the replacement and remodeling market.
[LEGAL]
Cornerstone Building Faces Wage-And-Hour Abuse Claims After Judge Denies Dismissal Bid
A federal judge denied an exterior building products manufacturer’s bid to dismiss a lawsuit alleging the company engaged in wage-and-hour abuses against its hourly-paid or non-exempt employees in Washington.
Cornerstone Building Brands Services Inc. (an affiliated corporate entity of Cornerstone Building Brands, a North Carolina-based manufacturer with offices throughout the United States, and producer of Ply Gem, Simonton, Harvey and other door and window brands), faces a civil lawsuit filed by a former hourly-paid, non-exempt field service coordinator at the company’s Spokane, Washington, facility. Margeaux Hesterly alleges that during her roughly three years with the company, she experienced what she describes as various wage-and-hour violations, including “non-compliant meal and rest breaks, off-the-clock work, unpaid or underpaid overtime, sick leave violations and personnel file violations.”
According to court documents, Hesterly states that while she was often scheduled to work Monday through Friday, 8 a.m. to 5 p.m., she ended up working “significantly more hours in the evenings, on the weekends and during her legally protected breaks.” She also alleges that she was routinely interrupted during meal breaks and was told to work during breaks at the request of her supervisor.
In all, Hesterly makes the following claims that Cornerstone failed to:
- Provide rest breaks;
- Provide meal breaks;
- Pay minimum wages for all hours worked;
- Pay overtime wages due;
- Accrue and allow use of paid sick leave;
- Pay all wages due at termination;
- Maintain accurate payroll records; and
- Provide personnel file records.
Cornerstone filed a motion to dismiss the lawsuit on April 16, arguing that Hesterly failed to sufficiently allege that she performed compensable work or that the company knew of or willfully committed the alleged wage-and-hour violations. The company also contended that she had not identified a uniform, class-wide policy supporting her claims and had failed to exhaust administrative remedies related to her personnel file allegations.
In his denial of Cornerstone’s dismissal motion, United States District Judge Thomas O. Rice rejects Cornerstone’s argument that Hesterly had to show her unpaid work was “integral and indispensable” to her job duties. He states that Washington law does not appear to incorporate the federal Portal-to-Portal Act standard, which amended the Fair Labor Standards Act by excluding certain preliminary and postliminary activities from compensable work time under federal law.
Judge Rice also found that Hesterly had sufficiently alleged that Cornerstone knew about the uncompensated time. He further allowed Hesterly’s willfulness claims to proceed, citing allegations that Cornerstone placed work expectations upon her that were impossible to complete within the time allotted, disciplined her when she was unable to meet those expectations or when she attempted to work overtime hours, and required her to work during unpaid meal periods.
