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RS Group's chief services officer will act as president of Allied in the interim.
The construction industry had 422,000 job openings in September, according to an Associated Builders and Contractors’ analysis.
Beacon will create a new specialty waterproofing division as a result of the acquisition.
Lowe is expected to continue operating under its current, founder-led management team and will be supported by the Crescent platform.
MDM looks at another round of earnings reports from industrial distributors and manufacturers.
Michael Knight will succeed longtime Endries President Steve Endries, who will remain with the company.
Stellar said the deal strengthens its presence in the Los Angeles Metro region as well as the state's Central Valley region.
Sales increased 26% to $55.8 billion through nine months, the independent distributor organization said.
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Prices climbed about 6.2% last month compared to a year earlier, the same rate as in August, according to the Commerce Department.
