BlueLinx Announces Closing Sale-Leaseback Transaction for Approximately $22 Million
BlueLinx Holdings Inc. (the “Company”), a leading distributor of building and industrial products in the United States, today announced that it has completed a sale-leaseback transaction for its distribution facility in Yulee, Florida, for a purchase price of $22 million.
Net proceeds from the transaction were used to repay indebtedness under the Company’s term loan and revolving credit facility. The Company remains committed to its local markets and will continue to operate out of its North Florida location under a long-term lease with multiple renewal options.
Mitch Lewis, President and Chief Executive Officer, stated, “We are pleased to continue making strides in our deleveraging efforts with the completion of another sale leaseback transaction. We previously indicated our intent to monetize certain real properties earlier in the year and are pleased with our execution on this commitment. We will remain focused on reducing our leverage in the months ahead.”
Additional information regarding these transactions will be included in a filing by the Company with the Securities and Exchange Commission on Form 8-K, which investors are encouraged to read in its entirety.
About BlueLinx Holdings Inc.
BlueLinx (NYSE: BXC) is a leading wholesale distributor of building and industrial products in the United States with over 50,000 branded and private-label SKUs, and a broad distribution footprint servicing 40 states. BlueLinx has a differentiated distribution platform, value-driven business model and extensive cache of products across the building products industry. Headquartered in Marietta, Georgia, BlueLinx has over 2,200 associates and distributes its comprehensive range of structural and specialty products to approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers. BlueLinx encourages investors to visit its website, www.BlueLinxCo.com, which is updated regularly with financial and other important information about BlueLinx.
Mary Moll – Investor Relations – Investor@BlueLinxCo.com – (866) 671-5138
Source: BlueLinx Holdings, Inc.