Construction materials wholesaler Consolidated Lumber has closed on a $15 million asset-based credit line from U.S. Bank to support its growth and provide working capital.

Founded in 1903, Stillwater, MN-based Consolidated Lumber operates 16 locations throughout Minnesota and Wisconsin under the name Arrow Building Center. The company provides construction materials, lumber, hardware and home improvement products, primarily to building contractors.

The firm recently acquired Siren, WI-based lumberyard Johnson Lumber.

“U.S. Bank has been doing business with Consolidated Lumber for more than 60 years, during which time they’ve grown steadily thanks to a diverse and loyal customer base, as well as a thoughtful M&A strategy. We’re proud to again partner to help them expand, in this case taking advantage of the improving economy and housing market,” said Sam Philbrick, president of U.S. Bank Asset-Based Finance.