US LBM To Acquire J.P. Hart Lumber and Hart Components
US LBM will have 65 locations in Texas after the acquisition is completed.
J.P. (Jimmie) Hart founded the company in 1939, and it is headquartered in San Antonio.
Hart’s operations serve the major markets in Texas, with five building materials yards and one window distribution facility spread across Austin, Houston, Dallas-Fort Worth, and San Antonio.
Hart Components has two manufacturing facilities in Austin and San Antonio for roof trusses and wall panels.
“Joining with US LBM in our 82nd anniversary year will allow us to continue to grow, provide new solutions for our valued customers and opportunities for our dedicated people,” said W.B. (Speedy) Hart and Greg Wright, who will both remain with Hart, with Wright continuing to lead day-to-day operations following completion of the acquisition.
“The Hart team is widely respected and known for excellence and innovation by professional builders across Texas,” L.T. Gibson, President, and CEO of US LBM stated.
Through the acquisition of Higginbotham Brothers in May, US LBM added 38 locations in Texas.
“When this acquisition is completed, US LBM will have an expansive network across Texas, with a strong presence in every major housing market, including Austin, Houston, Dallas-Ft. Worth and San Antonio.”
Subject to customary closing conditions, the transaction is expected to close in the third quarter of 2021.
US LBM announced in May an agreement to acquire American Construction Source, a national building materials distribution platform, which is also expected to close in the third quarter of 2021.
Hart’s financial advisor was the JIAN Group, LLC, and the company’s legal counsel was Norton Rose Fulbright and WyrickRobbins.