Foundation Building Materials announced July 5 it has acquired Virginia Builders’ Supply and Ceiling and Wall Supply. Virginia Builders’ Supply operates one location in Richmond, and Ceiling and Wall Supply has five branches in Missouri, Illinois, and Kentucky.
Ruben Mendoza, CEO of FBM, said “We are excited to announce that Virginia Builders will be joining the FBM team. Virginia Builders allows us to add a full line of specialty building products to the Richmond market with the addition of drywall, steel framing, and insulation.”
Speaking of the Ceiling and Wall Supply deal, Mendoza added “The transaction with CWS will allow FBM to strengthen our No. 1 ceilings position in North America through a deeper Midwest market presence and entry into the Eastern Missouri, Southern Illinois and Western Kentucky markets. The acquisition will also allow us to introduce our complementary products into these new markets and drive further value for FBM shareholders.”
FBM, based in Tustin, Calif., operates more than 200 branches across the U.S. Its first quarter revenue shot up by 96% after becoming a publicly traded company in January of this year. The company had $1.4 billion in total sales last year, which would place it 11th on the 2017 Prosales 100 had it taken part.
