Specialty distributor Foundation Building Materials (FBM) acquired two branches from IDI Distributors. Tustin, Calif.-based FBM purchased 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 deal were not publicly disclosed. 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,” Ruben Mendoza, FBM’s president and CEO, said in a news release. “We welcome the teams at both locations to the FBM network.”
FBM expects the two branches will perform at a level consistent with recent years, with an estimated $16 million to $20 million in net sales for the remainder of 2020. The acquisition is expected to be immediately accretive to the distributor with financial benefits driven by increase scale and savings.
FBM is a specialty distributor of wallboard, suspended ceiling systems, metal framing, and complementary products throughout North America. The company operates over 175 branches across the United States and Canada. FBM was ranked 9th on the 2019 ProSales 100 list. The acquisition of the two IDI units represents FBM’s second acquisition of 2020. The company acquired Louisville, Ky.-based Associated Drywall Suppliers in January.
