US LBM Completes American Construction Source Acquisition
US LBM, a leading specialty building materials distributor in the United States, has completed its previously announced purchase of American Construction Source from Angeles Equity Partners, LLC and Clearlake Capital Group, L.P.
US LBM is now the nation’s largest privately-owned full-line building materials distributor, with more than 70 locations in Arizona, Arkansas, California, Colorado, Minnesota, Missouri, Nevada, Washington, and Wisconsin.
“We are excited to welcome our new teams in the Midwest and West to US LBM, and the combination of their expertise and excellent customer relationships with the tools, resources, and reach of our national network creates unlimited opportunities for our customers, associates, suppliers and communities,” L.T. Gibson, President and CEO of US LBM stated.
“US LBM’s overall strategy remains growing in our existing markets and partnering through acquisitions with the best companies in new markets.”
In July, US LBM added Brand Vaughan Lumber Company in the Atlanta metro area, Home Center Supply outside of Phoenix, and completed the previously announced purchase of J.P. Hart Lumber and Components in Texas, which serves customers in the Austin, Houston, Dallas-Ft. Worth, and San Antonio markets.
The private transaction’s financial terms were not disclosed.
Barclays and Credit Suisse led the debt financing for the transaction.
Kirkland & Ellis LLP advised US LBM and Bain Capital Private Equity on legal matters.