Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE: FBM) announced Wednesday that it has purchased two specialty building products branches in Baltimore and Washington, D.C. from Insulation Distributors, Inc. (“IDI”). FBM acquired the suspended ceiling systems, wallboard, metal framing, and commercial insulation product lines of IDI serving the Baltimore and Washington, D.C. markets. The terms of the transaction were not disclosed.
IDI is family-owned and operated and stated that it has helped over 3,000 independent insulation contractors successfully profit and grow their own businesses nationwide. IDI will continue to operate its branch network nationwide.
“The acquisition of IDI’s specialty building products branches expands our geographic footprint to the Baltimore and Washington, D.C. markets and builds our commercial presence in the region,” said Ruben Mendoza, FBM’s President and CEO. “We welcome the teams at both locations to the FBM network.”
About Foundation Building Materials
Foundation Building Materials is a specialty distributor of wallboard, suspended ceiling systems, metal framing, and complementary products throughout North America. Based in Santa Ana, California, the Company employs more than 3,500 people and operates over 175 branches across the U.S. and Canada. Learn more at www.fbmsales.com or follow us on LinkedIn, Twitter, Instagram, or Facebook.
Read more https://www.businesswire.com/news/home/20200205005424/en or https://www.fbmsales.com/3789-2/
