BUFFALO GROVE, Ill. and SPRINGFIELD, Mo.,
25
May
2021
|
13:00 PM
Europe/Amsterdam

US LBM TO ACQUIRE ACS AMERICAN CONSTRUCTION SOURCE

Leading building materials distributor to expand reach in Midwest, Western and Northwestern US

US LBM, a leading distributor of specialty building materials in the United States, today announced that it has reached an agreement to acquire American Construction Source (“ACS”), a leading national building materials distribution platform for custom home builders and repair and remodel contractors. Upon completion of the acquisition, US LBM will operate nearly 400 locations nationwide.

American Construction Source’s portfolio consists of multiple locally branded building material distributors and manufacturers, operating more than 70 locations in Arizona, Arkansas, California, Colorado, Minnesota, Missouri, Nevada, Washington and Wisconsin. The company is backed by Angeles Equity Partners, LLC and Clearlake Capital Group, L.P.

With the addition of the ACS portfolio, US LBM will strengthen our position in the Midwest and California, and expand our reach to Colorado and Washington, two quickly growing construction markets,” said US LBM President and CEO L.T. Gibson. “We look forward to working with the ACS team and their local operators to continue leveraging their strong relationships, experience and teams to grow in their respective markets.”

“ACS joining US LBM is a perfect outcome based on the alignment of our shared strategy to preserve longstanding local lumberyard brands and operations while delivering a great customer experience,” said James Drexinger, CEO of ACS. “We are grateful to our customers, suppliers, leadership team, salespeople and associates for their support. Together we have built a significant industry platform while simultaneously honoring the 100-plus year heritage of the local brands and family legacies we have acquired.”

US LBM has completed more than 65 acquisitions since it was founded in 2009, including four since being acquired by Bain Capital Private Equity in late 2020. On May 3, US LBM announced the acquisition of Higginbotham Brothers, a building products dealer with 40 locations in Texas and Oklahoma.

Financial terms of the private transaction were not disclosed. The transaction is expected to close during the third quarter of 2021 and is subject to customary closing conditions, including requisite regulatory approvals.

Debt financing for the transaction is being led by Barclays and Credit Suisse. Kirkland & Ellis LLP is serving as legal counsel to Bain Capital Private Equity.

Boilerplate

ABOUT US LBM

US LBM is a leading distributor of specialty building materials in the United States. Offering a comprehensive portfolio of specialty products, including windows, doors, millwork, wallboard, roofing, siding, engineered components and cabinetry, US LBM combines the scale and operational advantages of a national platform with a local go-to-market strategy through its national network of locations across the country. For more information, please visit www.uslbm.com.

ABOUT AMERICAN CONSTRUCTION SOURCE

American Construction Source is an LBM distributor with 70+ locations in nine states serving the needs of custom home builders, repair & remodel contractors, and DIY consumers. ACS provides lumber and building materials businesses the resources, leverage, and focus to make their ideas happen. Recognizing the value and heritage of deep, local customer relationships as a strong foundation for growth, ACS’s best practices are designed to leverage shared strengths, drive operational excellence, and motivate performance to create a leading building products distributor with a national footprint and a great customer experience. ACS is backed by Angeles Equity Partners and Clearlake Capital Group. Learn more online at www.acs-lbm.com.