Foundation Building Materials Expands its Footprint in Greater Toronto, Canada with the Acquisition of Builders’ Supplies Limited
Foundation Building Materials, Inc. (“FBM” or the “Company”), one of the largest specialty distributors of wallboard, suspended ceiling systems and metal framing in North America, announced that it has closed the acquisition of Builders’ Supplies Limited, (“Builders’”). Builders’ is a leading independent distributor of drywall, steel framing, ceiling tile and grid, and other related products. Builders’ has an eighty-five year track record and operates three branches in the Greater Toronto Area. Terms of the transaction were not disclosed.
“We are excited Builders’ will be joining the FBM network. This transaction will expand our geographic footprint into the non-residential downtown Toronto market and enhance our service capabilities to the greater Ontario Province,” said Ruben Mendoza, FBM’s President and Chief Executive Officer.
The Company expects Builders’ performance to be consistent with prior years, with an estimated $20 million to $24 million in net sales for the remainder of 2019. This transaction is expected to be immediately accretive to the Company with financial benefits driven by increased scale and expected cost savings.
About Foundation Building Materials
Foundation Building Materials is a specialty distributor of wallboard, suspended ceilings systems, and metal framing throughout North America. Based in Tustin, California, the Company employs more than 3,400 people and operates more than 170 branches across the U.S. and Canada.
John Moten – Vice President Investor Relations – email@example.com – (657) 900-3213
Source: Foundation Building Materials, Inc.