US LBM, a distributor of specialty building materials in the United States, announced it has reached a definitive agreement to sell three of the company’s operating divisions, Feldman Lumber, Rosen Materials and Wallboard Supply Co., and their subsidiaries Coastal Roofing Supply, Eastern Wallboard Supply and Richardson Gypsum, to L&W Supply. L&W Supply is an operating unit of ABC Supply.
US LBM acquired Feldman Lumber and Wallboard Supply in 2014 and Rosen Materials in 2015. In total, these divisions and their subsidiaries currently operate 42 locations in 12 states and primarily sell and distribute interior building materials, including wallboard, acoustical ceilings and steel framing.
"The alignment of L&W Supply’s product focus with that of Feldman Lumber, Rosen Materials and Wallboard Supply will be a great benefit for the customers and associates of these divisions," L.T. Gibson, president and CEO of US LBM, said in a statement. "Upon completion of this transaction, US LBM will remain well positioned to continue our growth through product category expansion, strategic acquisitions and greenfield development, while continuing to provide our customers a full line of specialty building products."
The transaction is subject to customary closing conditions, including regulatory review, and is expected to close in the second quarter of 2023.