Building materials distributor US LBM has signed an agreement for Bain Capital Private Equity to acquire a majority stake in the company. US LBM will continue to operate under president and CEO L.T. Gibson and the current management team.
Financial terms of the deal were not disclosed.
US LBM was founded in 2009 and now has more than 350 locations.
“US LBM’s national platform, local go-to-market strategy, relationships with top suppliers, and record of successful integrations continues to make us an acquirer of choice in the building materials industry. We look forward to working with Bain Capital Private Equity and leveraging their experience of helping industrial companies scale and attract additional partners,” says Gibson.
“L.T. and his team have built an impressive, enduring business with a winning model that combines the advantages of national scale with a strong local market strategy,” says Stephen Thomas, a managing director at Bain Capital Private Equity. “We believe US LBM is poised for continued growth and expansion as a leading national building materials distributor.”