US LBM planted its second flag in the Phoenix market today with the announcement that it has acquired R&K Building Supplies, a lumberyard based in Gilbert, Ariz.
Aside from lumber, R&K sells windows, doors, millwork, insulation and trusses. The move “complements our recently opened Rosen Materials location in Phoenix and expands our presence in a growing construction market in the Southwest,” US LBM President and CEO L.T. Gibson said in a news release. The Rosen location specializes in drywall, metal studs, stucco, and ceiling systems.
R&K President Chad Coons will retire from the company in coming months, and son Chip Coons, currently vice president, will become president. R&K will continue to operate under that name.
US LBM ranks sixth in the current ProSales 100, having reported $3.02 billion in sales in 2017, 97% of it to pros.
This is the Buffalo Grove, Ill.-based company’s second acquisition this year. On May 1, US LBM did its first deal in 15 months with its announcement that it has acquired Myrtle Beach Building Supply, a two-yard operation in South Carolina.
In May 2017, US LBM filed a registration statement with the Securities and Exchange Commission signaling its intention to move from privately owned to publicly traded status. That initial public offering remains on hold.
