Foundation Building Materials Expands its Presence in Greater Toronto, Canada with the Acquisition of Select Acoustics Supply Inc.
Foundation Building Materials, Inc. (“FBM” or the “Company”), one of the largest specialty distributors of wallboard, suspended ceilings systems, and metal framing in North America, announced that it has closed the acquisition of Select Acoustics Supply Inc., (“Select”). Select is an independent distributor of suspended ceiling systems and has a thirty-seven year track record serving the Greater Toronto Area. Terms of the transaction were not disclosed.
“The addition of Select Acoustics Supply further builds our market presence in the downtown Toronto commercial market,” said Ruben Mendoza, FBM’s President and Chief Executive Officer. “With a strong track record of unparalleled customer service, Select is a welcome addition to the FBM network.”
The Company expects Select’s performance to be consistent with prior years, with an estimated $10 million to $12 million in net sales for the remainder of 2019. This acquisition is expected to be immediately accretive to the Company with financial benefits driven by increased scale and 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 175 branches across the U.S. and Canada.
John Moten – Vice President Investor Relations – firstname.lastname@example.org – (657) 900-3213
Source: Foundation Building Materials, Inc.