Builders FirstSource and BMC Stock Holdings Receive HSR Clearance for Proposed Combination
Builders FirstSource, Inc. (“Builders FirstSource”) and BMC Stock Holdings, Inc. (“BMC”), announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”), effective on November 13, 2020. This concludes the Department of Justice’s HSR Act review of the proposed combination of the two companies. Builders FirstSource and BMC expect to close the transaction in late 2020 or the beginning of 2021, subject to the approval of the stockholders of each company, as well as the satisfaction or waiver of the remaining closing conditions. The special meetings of each company’s respective stockholders relating to the proposed combination are scheduled to be held on December 22, 2020. Each company has set the close of business on November 13, 2020, as the record date for determining its stockholders who are entitled to notice of, and to vote at, its stockholder meeting.
Chad Crow, Chief Executive Officer of Builders FirstSource, said, “We are pleased to receive this clearance. We look forward to becoming the nation’s premier supplier of building materials, services and solutions when the transaction is completed. We are excited about the opportunities ahead and plan to quickly realize the benefits of this new, larger platform.”
Dave Flitman, Chief Executive Officer of BMC and future CEO of the Combined Company, added, “We are excited to take this additional step toward completing the strategic combination of two great organizations. Building on our shared commitment to helping customers thrive through our innovative services and solutions, we will have an expansive geographic footprint and enhanced local relationships in attractive, high-growth markets, allowing us to accelerate our growth strategy and create shareholder value.”
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. We operate in 40 states with approximately 400 locations and have a market presence in 77 of the top 100 Metropolitan Statistical Areas, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products. For more information about Builders FirstSource, visit the Company’s website at www.bldr.com.
About BMC Stock Holdings
With $3.6 billion in 2019 net sales, BMC is one of the nation’s leading providers of diversified building materials and solutions to new construction builders and professional remodelers in the U.S. Headquartered in Raleigh, North Carolina, the Company’s comprehensive portfolio of products and services spans building materials, including millwork and structural component manufacturing capabilities, consultative showrooms and design centers, value-added installation management and an innovative eBusiness platform. BMC serves 45 metropolitan areas across 18 states, principally in the South and West regions.
Builders FirstSource – Binit Sanghvi – Vice President Investor Relations – (214) 765-3804
BMC Stock Holdings – Michael Neese – Senior Vice President Strategy & Investor Relations – (919) 431-1796
Source: BMC Stock Holdings, Inc.