Foundation Building Materials Expands in the Midwest with Acquisitions of R M Supply and ArmCom Distributing Company
02 Fevereiro 2018 - 11:30AM
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 the Midwest to
enhance its growth strategy and expand its product offerings. The
terms of the transactions were not disclosed.
- For over 30 years, R M Supply, Inc. (“R
M Supply”) has been an independent distributor of wallboard, steel
framing, insulation, and wallboard accessories. R M Supply operates
two branches in Wentzville and Herculaneum, Missouri.
- For almost 70 years, ArmCom
Distributing Company ("ArmCom"), a division of the St. Paul
Linoleum and Carpet Company, has been an independent distributor of
ceiling products. ArmCom operates five branches: St. Louis Park,
Minnesota; Rochester, Minnesota; Fargo, North Dakota; Sioux Falls,
South Dakota; and Omaha, Nebraska.
“A fundamental component of our successful growth strategy is to
secure highly-complementary acquisitions with compelling track
records of success,” said Ruben Mendoza, FBM’s Chief Executive
Officer. “R M Supply and ArmCom are ideal strategic and financial
fits for our company and represent uniquely positive and durable
attributes. They are, first and foremost, well-run companies and
have longstanding customer relationships in the residential and
commercial markets of the Midwest.”
The Company expects the performance of the two acquired
companies to be consistent with prior years, with an estimated $27
million to $29 million in collective net sales for the remainder of
fiscal year 2018. These transactions are expected to be immediately
accretive to the Company with financial benefits driven by
increased scale and expected 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 3,700 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180202005097/en/
Investor Relations:Foundation Building Materials, Inc.John
Moten, 657-900-3213VP Investor
Relationsjohn.moten@fbmsales.comorMedia Relations:Joele Frank,
Wilkinson Brimmer KatcherJed Repko / Ed Trissel, 212-355-4449
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