Frequently Asked Questions

Acquisition Details

What will be the name going forward?

At some point after closing, the name of the combined company will be Lansing Building Products and Lansing will transition the name and the brand into Harvey locations.

 

When will the acquisition be complete?

We anticipate finalizing the transaction by the end of April 2020 and will continue to keep you posted as we have more details. Between now and closing, it will be business as usual for Lansing and Harvey’s distribution business.

 

How will communications take place during this transition?

A transition team composed of Lansing and Harvey associates has been established to coordinate detailed plans for a smooth transition post-closing. As further details become available, we will update this specially-designated web portal.

Please note: During this transition, no member of the Lansing or Harvey team should share any confidential or competitive information between the two companies unless you have been duly authorized by senior management. If you are unsure if it is safe to share any information prior to closing, please consult your manager.

 

How will our customers be notified?

Lansing and Harvey customers will be notified on March 16, 2020 – some by email/letter and others through calls and/or personal visits.

 

What impact will the acquisition have on our customers?

We do not anticipate any immediate impact to customers, and they will continue to enjoy the tremendous service they’ve come to expect from both Lansing and Harvey. As a combined company, we will seek to continually enhance a best-in-class customer experience.

 

Day-to-Day Operations

Will there be any impact on jobs?

One of the great benefits of this acquisition is the distinct geographic footprint of each company. Accordingly, all Harvey associates who are fully dedicated to the distribution business, either in a branch or the home office, will continue with Lansing.

During the transition period after closing, we will work with Harvey’s manufacturing leadership to determine the status of Harvey home office associates who currently split their time between distribution and manufacturing.

There will be no impact to current Lansing associates as part of this acquisition.

 

Will my reporting structure change?

We do not anticipate any changes at the branch level for Harvey associates. However, some reporting structure changes may occur at the home office, and we will individually notify any associates accordingly.

 

How will I know who is transitioning over to Lansing and who is staying with Harvey’s manufacturing business?

We will communicate with Harvey associates throughout this transition period and anticipate publishing an updated company directory shortly after closing.

 

What systems will we be using for inventory, ordering, accounting, etc.?

We are working to move the Harvey distribution business from the current SAP platform to Lansing’s enterprise resource platform, SX.e by Infor. We are also working with Harvey on other IT and systems-related considerations. We will provide additional information about this transition, including training on new IT and systems platforms, as soon as we can.

 

As a current Lansing associate, what can I do to help transition the Harvey associates into the Lansing family?

First and foremost, continue to do great work every day. If you are in a role that will interface with Harvey associates, please welcome them to the Lansing family, share your experience working here, and answer any questions about your role they may have.

 

Salary and Benefits – Harvey Associates

Will there be any changes to my salary or benefits?

SALARY AND PAYROLL
Your payroll provider will continue to be ADP. Harvey associates will continue to be paid weekly. We will advise you of any additional steps you may need to take to continue your direct deposit.

MEDICAL, DENTAL, VISION PLANS
Harvey’s medical, vision and dental plans will be replaced, and we are working to create comparable offerings for those plans. For some benefits, your insurance provider will change — for example, Lansing uses CIGNA for its medical plan. You will receive more information on these plans in the coming weeks.

401(K) PLAN
All Harvey associates joining Lansing will immediately be automatically enrolled in Lansing’s 401(k) plan. Lansing’s 401(k) plan is managed by Fidelity Investments. The company’s match program is 50% of the participant’s contribution (up to 15% of your base salary). Associates are 100% vested on their contributions at all times. Employer matching funds are vested at 100% at the completion of 3 years. In the coming weeks, we will provide additional information on the Lansing 401(k) plan and your options with respect to any balances you may currently have in Harvey’s 401(k) plan.

 

Will there be changes to any other benefits currently offered or policies implemented by Harvey?

We are working to preserve other Harvey benefits and expect policies applicable to both Lansing and the Harvey distribution business to remain in place after closing. Going forward, we will take a thoughtful, measured approach to understanding the specifics of Harvey’s operations as we want to leverage the best practices of both companies to become a fully integrated powerhouse in the industry.

 

Markel Ventures

What role will Markel Ventures have in this acquisition?

Markel Ventures is part of Markel Corporation, a publicly-traded diverse financial holding company based in Richmond, Virginia. Markel Ventures owns and operates a family of companies outside the insurance industry. Its investments in companies are permanent; in more than 15 years of business, it has not sold a company in its portfolio. While Markel Ventures will have a majority interest in Lansing going forward, its focus is on building lasting partnerships, pursuing long-term financial performance, maintaining strong balance sheets, and empowering management teams to run their businesses. Markel Ventures partners with like-minded businesses and refrains from affecting management’s day-to-day activities. They have put their full trust in Lansing’s senior team to lead our growing business going forward. For more information, see www.markel.com/markel-ventures.

 

Media

What should I do if someone from the media calls to ask about the acquisition?

Please refer any media calls to Lansing’s home office in Richmond (Kristin Hidell; 804.887.2583; Kristin.Hidell@LansingBP.com) or Harvey’s home office in Waltham (Alan Richard; 781.398.7884; Alan.Richard@HarveyBP.com).

 

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