Foundation Building Materials Expands Footprint in Texas and Ontario, Canada With Two New Acquisitions
02 Novembro 2017 - 11:00AM
Business Wire
Foundation Building Materials, Inc. (“FBM” or the “Company”)
(NYSE: FBM), one of the largest specialty distributors of
wallboard, suspended ceiling systems and mechanical insulation in
North America, announced today that it has completed the
acquisitions of two specialty building product distributors in
Texas and Ontario, Canada to facilitate its growth strategy and
expand its product offerings. The terms of the transactions were
not disclosed.
- MCS Door & Hardware (“MCS”) is an
independent distributor of doors, frames, hardware and toilet
partition products. MCS was founded in 2000 in Bryan, Texas.
- Del-Pro Building Supplies, Inc.
("Del-Pro") is an independent distributor of wallboard, steel
framing, insulation, basement blanket and spray foam products.
Del-Pro was founded in 2012 in Ontario, Canada.
“With the closing of these transactions, FBM strengthens its
wallboard market share in Canada and adds locations which
complement its core product offerings,” said Ruben Mendoza, FBM’s
Chief Executive Officer. “These two companies have a strong and
successful history, largely created by the talent of their
management and employees and long standing customer relationships.
Senior management from the acquired companies will continue with
FBM to ensure a smooth transition and quick integration.”
The Company expects that the two acquired companies’ performance
will be consistent with prior years, collectively contributing an
estimated $10 million to $12 million in annual net sales beginning
in 2018, with immediately accretive bottom-line benefit due to
scale and cost savings.
About Foundation Building Materials
Foundation Building Materials is a specialty distributor of
wallboard, suspended ceiling systems, and mechanical insulation
throughout North America. Based in Tustin, California, the Company
employs more than 3,500 people and operates more than 220 branches
across the U.S. and Canada.
Forward-Looking Statements
This press release contains forward-looking statements, which
are subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
without limitation, any statements regarding the expected benefits
to FBM and its shareholders from completing the acquisition, the
expected revenue contribution by the acquired companies, the
accretive benefit to FBM’s earnings, the expected integration of
the acquired companies and the time frame in which this will occur,
and plans regarding acquired companies’ personnel, and may contain
words such as “believe,” “anticipate,” “expect,” “estimate,”
“intend,” “project,” “plan,” or words or phrases with similar
meaning. Forward-looking statements should not be read as a
guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by, which
such performance or results will be achieved. Forward-looking
statements are based on current expectations, forecasts and
assumptions that involve risks and uncertainties, including,
without limitation, economic, competitive, governmental and
technological factors outside of FBM’s control, that may cause the
business, strategy or actual results to differ materially from the
forward-looking statements. We do not intend, and undertake no
obligation, to update any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by applicable law. Investors are referred to our
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q
for additional information regarding the risks and uncertainties
that may cause actual results to differ materially from those
expressed in any forward-looking statement.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171102005815/en/
Investor Relations:Foundation Building Materials, Inc.John
Moten, 657-900-3200VP Investor
Relationsjohn.moten@fbmsales.comorMedia Relations:Joele Frank,
Wilkinson Brimmer KatcherJoe Sala or Joe Millsap, 212-355-4449
Foundation Building Mate... (NYSE:FBM)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Foundation Building Mate... (NYSE:FBM)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024