ABC Supply Co. Inc. to Acquire Standalone Wallboard Divisions of US LBM
BELOIT, Wis. — ABC Supply Co. Inc. has entered into a definitive agreement to acquire the standalone wallboard divisions of US LBM: Feldman Lumber, Richardson Gypsum, Rosen Materials, Wallboard Supply Company and Coastal Roofing Supply.
“We look forward to welcoming the associates into the ABC Supply family and are confident our shared commitment to delivering world-class service will benefit all our customers," said Keith Rozolis, ABC Supply’s president and CEO.
The stock transaction is subject to customary closing conditions, is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the second quarter.
ABC Supply is a leading distributor of exterior building products, and its subsidiary L&W Supply distributes interior building products, used by residential and commercial specialty contractors.
US LBM acquired Feldman Lumber and Wallboard Supply in 2014 and Rosen Materials in 2015. In total, these divisions and their subsidiaries currently operate 42 locations in 12 states and primarily sell and distribute interior building materials, including wallboard, acoustical ceilings and steel framing.
"The alignment of L&W Supply’s product focus with that of Feldman Lumber, Rosen Materials and Wallboard Supply will be a great benefit for the customers and associates of these divisions," said US LBM President and CEO L.T. Gibson. "Upon completion of this transaction, US LBM will remain well positioned to continue our growth through product category expansion, strategic acquisitions and greenfield development, while continuing to provide our customers a full line of specialty building products."
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