The building materials distributor completed its acquisition of the largest independent building materials supplier in New England.
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For the third quarter of 2021, the building materials distributor reported net sales of $5.5 billion and net income of $613.1 million.
The digital move complements the building distributor’s June acquisition of software provider WTS Paradigm.
Builders FirstSource CEO: The move will “strengthen our broad portfolio of industry-leading solutions and valued-added products.”
With the deal completed, Builders FirstSource said Paradigm will operate as an independent business going forward.
Builders FirstSource CEO and President Flitman said the stock repurchase plan underpins the company’s confidence in its balance sheet and strong cash flow generation.
Dallas-based building materials distributor Builders FirstSource, still riding the momentum of its merger with BMC Stock Holdings, reported another strong quarter.
The transaction, announced earlier this month, “supports L&W Supply’s overall growth strategy,” according to the company’s president.
The Dallas-based building materials giant is unloading the business to L&W Supply for an undisclosed amount.
Builders FirstSource CEO Flitman says the NYSE is the preferred exchange for the building materials industry.
The building materials behemoth dropped a sizable pile of cash on a software provider as the distributor doubles down on its digital capabilities.
The addition of WTS Paradigm LLC, a software solutions and services provider for the building products industry, is another digital investment for the distributor.
Cornerstone Alliance is the largest independently operated supplier of building materials in Arizona.
Addition of John’s Lumber will benefit Builders FirstSource’s operations through the state of Michigan.
Dallas-based Builders FirstSource said the large increase in net sales was driven in part by deal to buy BMC Stock Holdings, which closed earlier this year.
Dave Flitman is now formerly CEO of Builders FirstSource after company completes transition of BMC merger.
Dallas-based building materials distributor Builders FirstSource, fresh off the acquisition of BMC Stock Holdings, said fourth-quarter sales climbed 43.5%.
New building materials juggernaut becomes official as companies with combined annual sales of $11.7 billion complete all-stock merger transaction.
Independent company, which serves Northern Virginia, Maryland and Washington, D.C., will become part of building materials giant — the soon-to-be merged BMC and Builders FirstSource.
Building materials distributors, which will soon combine, announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.