TUSTIN, Calif.–(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 acquisition of substantially all of the operating assets of American Wal-Board, LLC and related entities (“American Wal-Board”). Financial terms of the transaction were not disclosed.
Founded in 1995, American Wal-Board is an independent distributor of drywall, steel framing, insulation, roofing and fireplace products. Led by a strong management team, American Wal-Board operates one branch in Tennessee and one branch in Mississippi.
“Today’s announcement is another strategic acquisition for FBM,” said Ruben Mendoza, FBM’s Chief Executive Officer. “By adding American Wal-Board, we gain entry into a new market in Mississippi and expand our footprint in Tennessee. FBM’s development team sourced and closed this important addition to our company, which we expect to be fully integrated into our organization within ninety days. We welcome the American Wal-Board team to the Foundation family and look forward to integrating their two branches into our company.”
The Company expects American Wal-Board’s third and fourth quarter performance to be consistent with prior years, contributing an estimated $5 million to $7 million in net sales through December 31, 2017.
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.
