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Builders FirstSource Completes Combination with BMC Stock Holdings

General News

Builders FirstSource, Inc. (“Builders FirstSource” or the “combined Company”) and BMC Stock Holdings, Inc. (“BMC”), announced the completion of their all-stock merger transaction.

The close of the merger creates the nation’s premier supplier of building materials and services, with combined sales of approximately $11.7 billion as of the twelve months ended September 30, 2020. The combined Company will operate a leading network of approximately 550 distribution and manufacturing locations, with a presence in 40 states, including 44 of the top 50 metropolitan statistical areas, covering most of the nation’s fastest growing regions.

Under the terms of the previously announced merger agreement, BMC shareholders received a fixed exchange ratio of 1.3125 shares of Builders FirstSource common stock for each share of BMC common stock held immediately prior to the effective time of the merger. The pre-closing Builders FirstSource shares remain outstanding and currently represent approximately 57% of the combined Company’s shares outstanding. The combined Company will operate under the name Builders FirstSource, Inc., and its shares will continue to trade on the NASDAQ under the symbol “BLDR”. As a result of the completion of the merger, the common stock of BMC has been delisted for trading on the NASDAQ.

Chad Crow, Chief Executive Officer of Builders FirstSource, commented, “We are extremely excited to move forward as one company that is even better positioned to offer enhanced value for shareholders, customers, and team members. Uniting our complementary assets and leveraging our combined geographic presence provides us with an expanded base to deliver our best-in-class solutions as the residential recovery continues. Looking ahead, I am confident that Dave Flitman will do an outstanding job leading our combined Company to build upon our proven track record of innovation, financial discipline, and superior execution. I look forward to working closely with our team to ensure a seamless transition as we enter the next chapter of our remarkable growth story.”

“The completion of this merger represents a transformational milestone for our customers and an exceptional platform to accelerate the growth of our value-added solutions,” added Dave Flitman, the former Chief Executive Officer of BMC, who will succeed Mr. Crow as the CEO of Builders FirstSource, Inc. “During the past several months, we have made significant strides in laying the foundation for a successful integration. Our combined leadership team will blend the best of both of these great companies and do an excellent job of leading our approximately 26,000 team members. I am humbled by, and grateful for, the opportunity to lead our new Company into this next phase and strongly believe we have the right talent, experience, and strategies in place to create the most exciting growth platform in our industry.”

As previously announced, beginning April 1, 2021, Mr. Flitman will become Chief Executive Officer of Builders FirstSource, and Mr. Crow will retire and remain available on a consulting basis to support the integration and to ensure an orderly transition.

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 550 locations and have a market presence in 44 of the top 50 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 our website at www.bldr.com.

Contact:

Builders FirstSource – Binit Sanghvi – Vice President Investor Relations – (214) 765-3804

Source: BMC Stock Holdings, Inc.