CR CEO, Mitch Hires, Shares Industry Outlook For 2020
Construction Resources’ CEO, Mitch Hires, recently sat down with Monomoy Capital Partners in an interview to share his insight regarding opportunities and trends in the building and construction sector to look forward to in 2020.
Hires explains the company’s biggest opportunities for the year include “growth and expansion of our UMI Surfaces Distribution business, capitalizing on the synergistic CR product offerings, securing high margin growth opportunities in the expanding remodel market.” With UMI as the newest acquisition to the company in 2019, CR is able to expand geographically, as well as, source synergies for vertical integration into the already existing fabrication facilities.
Compared to 2019, CR has seen a lot of growth specifically in natural stone and quartz slab surfaces. Glass and mirror also saw an increase in sales in the Atlanta and South Carolina markets. These trends are expected to continue to rise, in addition to the appliance segment in Atlanta that already experienced substantial growth within the past year.
Construction Resources’ goal for 2020 is to focus on 10% plus revenue growth while maximizing earnings with a continued focus on safety. Consolidating the integration of United Materials (UMI) will be crucial for the ongoing success of the business but is one that [we] are excited to place our efforts in and push geographically.