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Kelso Backs US LBM, as Building Products Companies Bring Home Deals

Masonite International and Beacon Roofing have also made acquisitions, as the U.S. housing recovery drives M&A

Kelso & Co. is investing in building products company US LBM Holdings LLC.

US LBM is a group of building material distribution businesses that supply framing lumber, roof and floor trusses, millwork, roofing, siding and windows to homeowners and contractors. Terms of the recapitalization deal weren’t disclosed.

Private equity firm BlackEagle Partners has backed US LBM since 2009, when the firm formed the business. BlackEagle and US LBM management will remain invested in the company.

Bloomfield Hills, Michigan-based BlackEagle focuses on lower middle-market deals.

New York-absed Kelso has invested in several building products businesses before, including flooring business Custom Building Products. The firm also invests in business and consumer services, communications, consumer and retail, energy, financial services, health care, and transportation companies.

Harris Williams & Co. advised US LBM on the deal.

A recovery in the U.S. housing market has spurred building products deals in recent months. Earlier in August, Masonite International Corp. (NYSE: DOOR) picked up doorkit maker National Hickman. In July, Beacon Roofing Supply Inc. agreed to buy Roofing Supply Group from Clayton Dubilier & Rice.

 

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