L&W Supply to Acquire Assets of Builders FirstSource Inc. Eastern U.S. Gypsum Distribution Operations
CHICAGO, IL—July 7, 2021—L&W Supply Corporation has entered into a definitive agreement to acquire the assets of the stand-alone Eastern U.S. Gypsum Distribution Operations (Eastern Gypsum Operations) from Builders FirstSource, Inc. (Nasdaq: BLDR) (Builders FirstSource). L&W Supply is a leading specialty distributor for drywall, ceilings, steel framing and other building materials used by commercial and residential specialty contractors.
L&W Supply will acquire all the assets of Eastern Gypsum Operations, assume the real estate leases for those operations and hire substantially all the employees at its locations. The acquired assets will operate as L&W Supply. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2021. The sale price of the transaction is not disclosed.
Eastern Gypsum Operations consists of 21 facilities located throughout the northeast and southeast U.S. L&W Supply will be adding 12 new distribution branches and acquire the gypsum operations assets and personnel from an additional nine shared Builders FirstSource locations, which will move to an existing nearby L&W Supply yard. L&W Supply will provide the employees and customers of Eastern Gypsum Operations with a reliable partner in the space that can provide both employment opportunities and high-quality service.
This transaction comes on the heels of four successful acquisitions for L&W Supply over the past year. With the acquisition, L&W Supply will operate 197 locations in 38 states.
“This acquisition creates additional synergies across our value chain and branch operations, and it further reinforces our leadership position in the interior building material distribution market,” said Dan Piché, L&W Supply’s president. “We look forward to welcoming the Eastern Gypsum Operations team into the L&W family and are confident our shared commitment to delivering world-class service will benefit customers and associates alike.”
The information provided is for general informational purposes only. All information provided is in good faith, and is not intended as a substitute for obtaining accounting, tax, legal, or financial advice for a professional accountant or lawyer. Any opinions expressed are those of the author. L&W Supply makes no warranties of any kind, express or implied, regarding, the accuracy, adequacy, validity, reliability, availability, or completeness of any information provided herein. Any questions regarding the information provided should be addressed to the author.
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