Foundation Building Materials Expands its Presence in the Greater Milwaukee Market with the Acquisition of Marriott Drywall Materials, Inc.
Foundation Building Materials, Inc. (“FBM” or the “Company”), one of the largest specialty distributors of wallboard, suspended ceilings systems, metal framing, and complementary products in North America, announced today that it has closed the acquisition of Marriott Drywall Materials, Inc. (“Marriott”). Marriott is an independent distributor of drywall and accessories, steel framing, insulation, tools, and fasteners, and has a 22-year track record serving the Greater Milwaukee, Wisconsin area. Terms of the transaction were not disclosed.
“The addition of Marriott further builds our residential and commercial market presence in the Milwaukee metropolitan area,” said Ruben Mendoza, FBM’s President and Chief Executive Officer. “With a strong track record of unparalleled customer service, Marriott is a welcome addition to the FBM network.”
The Company expects Marriott’s performance to be consistent with prior years, with an estimated $2.0 million to $3.0 million in net sales for the remainder of 2020. 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, metal framing, and complementary products throughout North America. Based in Santa Ana, California, the Company employs more than 3,400 employees and operates over 170 branches across the U.S. and Canada. Learn more at www.fbmsales.com or follow us on LinkedIn, Twitter, Instagram or Facebook.
John Moten – Vice President Investor Relations – firstname.lastname@example.org – (657) 900-3213
Source: Foundation Building Materials, Inc.