According to a report this past Thursday by Reuters, one of the largest building materials distributors in the U.S., US LBM Holdings, has placed itself on the auction block in a sale that could net nearly $1 billion.
Citing people familiar with the matter, the Reuters report says US LBM's private equity owner, BlackEagle Partners LLC, has hired Harris Williams & Co to run an auction for the company. The source said US LBM had annual EBITDA earnings of mroe than $100 million.
The news follows another major acquisition in the building materials market, as Builders FirstSource purchased privately-owned ProBuild for $1.63 billion on April 13.
Green Bay, WI-based US LBM provides lumber, roof and floor trusses, siding, and other building materials to custom homebuilders and professional remodelers, as well as multifamily and commercial contractors, in 21 states.