Cancel OK

BlueLinx Announces Closing of Sale-Leaseback Transaction

General News

BlueLinx Holdings, Inc. (the “Company”), a leading distributor of building and industrial products in the United States, announced that it has completed a sale-leaseback transaction for its owned distribution facility in Denver, Colorado, for net cash proceeds of $10.6 million. The transaction closed on August 14, 2020, and as a part of the transaction, the Company entered into a lease agreement for the property with multiple renewal options, demonstrating its long-term commitment to this local market.

Net proceeds from the sale-leaseback transaction were used to repay indebtedness under the Company’s term loan. Following this repayment, the balance of the Company’s term loan was approximately $57.8 million. As previously announced, the Company will no longer be subject to the term loan facility’s total net leverage ratio covenant as long as the principal balance level under the facility is less than $45 million.

Management Commentary

Mitch Lewis, President and Chief Executive Officer, stated, “I am very pleased to announce the closing of this latest sale-leaseback transaction, which generated meaningful net cash proceeds for debt repayment. We remain in active and ongoing discussions on other opportunities to monetize our owned real estate portfolio as we continue to aggressively pursue our deleveraging strategy.”

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 approximately 2,000 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,, which is updated regularly with financial and other important information about BlueLinx.


Kelly C. Janzen – Senior Vice President, CFO & Treasurer – (770) 953-7000

Source: BlueLinx Holdings, Inc.