Foundation Building Materials Expands its Footprint in Greater Toronto, Canada with the Acquisition of Builders’ Supplies L...
04 Fevereiro 2019 - 7:15PM
Business Wire
Foundation Building Materials, Inc. (“FBM” or the “Company”)
(NYSE:FBM), one of the largest specialty distributors of wallboard,
suspended ceiling systems and metal framing in North America,
announced today that it has closed the acquisition of Builders’
Supplies Limited, (“Builders’”). Builders’ is a leading independent
distributor of drywall, steel framing, ceiling tile and grid, and
other related products. Builders’ has an eighty-five year track
record and operates three branches in the Greater Toronto Area.
Terms of the transaction were not disclosed.
“We are excited Builders’ will be joining the FBM network. This
transaction will expand our geographic footprint into the
non-residential downtown Toronto market and enhance our service
capabilities to the greater Ontario Province,” said Ruben Mendoza,
FBM’s President and Chief Executive Officer.
The Company expects Builders’ performance to be consistent with
prior years, with an estimated $20 million to $24 million in net
sales for the remainder of 2019. This transaction is 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 ceilings systems, and metal framing throughout
North America. Based in Tustin, California, the Company employs
more than 3,400 people and operates more than 170 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 benefits to FBM’s earnings, 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 assumption 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: https://www.businesswire.com/news/home/20190204005717/en/
Investor Relations:Foundation Building MaterialsJohn
Moten, IRC, 657-900-3213VP Investor
Relationsinvestors@fbmsales.comorMedia RelationsJoele Frank,
Wilkinson Brimmer KatcherJed Repko or Ed Trissel, 212-355-4449
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