US LBM Sold to Private Equity Firm

July 30th, 2015 by Editor

US LBM Holdings, a building materials distributor with approximately 160 locations in 22 states, is selling a majority stake to Kelso & Company, a private equity firm. BlackEagle Partners, another private-equity firm, is also investing in US LBM, along with members of the company’s management team.

Terms of the transaction were not disclosed.

“Our partnership with BlackEagle has led to the creation of a leader in building products distribution,” said L.T. Gibson, CEO of US LBM, in a statement. “We are excited about Kelso’s investment in the business and the new partnership between Kelso, BlackEagle and management. We look forward to working with our shareholders to continue to build and grow the company.”

“We are pleased to be partnering with BlackEagle, L.T. and the impressive team at US LBM, both at the corporate level and at the individual business units,” said Sandy Osborne, managing director at Kelso, in a statement. “We are excited to support the company as it continues its growth.”

“We have worked alongside L.T. and his team for six years to build a world-class company, and we look forward to continuing the Company’s upward trajectory in partnership with Kelso,” said Michael Madden, managing partner of BlackEagle, in a statement

 

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