Foundation Building Materials (FBM), the wallboard, ceiling systems, and insulation specialists, announced the acquisition of Select Acoustics Supply, a Canadian independent distributor of suspended ceiling systems. Terms of the deal were not disclosed.
Select Acoustics Supply has serviced the greater Toronto market for 37 years, according to a news release from FBM.
“The addition of Select Acoustics Supply further builds our market presence in the downtown Toronto commercial market,” Ruben Mendoza, FBM’s president and CEO, said in a public statement. “With a strong track record of unparalleled customer service, Select is a welcome addition to the FBM network.”
FBM expects Select Acoustics Supply’s performance to be consistent with previous years, with an estimated $10-$12 million in net sales for the remainder of 2019. The acquisition is expected to be immediately accretive to FBM with financial benefits driven by increased scale and cost savings.
Tustin, Calif.-based FBM, ranked 10th on the 2018 ProSales 100 list, operates more than 170 branches across the United States and Canada. The acquisition is the distributor’s second expansion into Canada during 2019. FBM acquired Ontario-based three-unit drywall, steel framing, and ceiling tile distributor Builders’ Supplies Limited in February.
