US LBM, a distributor of specialty building materials in the United States, completed its acquisition of American Construction Source (ACS) from Angeles Equity Partners and Clearlake Capital Group. Barclays and Credit Suisse led the debt financing for the transaction. Financial terms were not disclosed.
US LMB now has 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, said. “US LBM’s overall strategy remains growing in our existing markets and partnering through acquisitions with the best companies in new markets.”
US LBM has now made four acquisitions in July, also adding Brand Vaughan Lumber Company in the Atlanta metro area and Home Center Supply located outside of Phoenix and completing the previously announced purchase of J.P. Hart Lumber and Components, which serves customers in the Austin, Houston, Dallas, Forth Worth and San Antonio markets in Texas.
Kirkland & Ellis served as legal counsel to US LBM and Bain Capital Private Equity.