The 2020 Mid-Year Economic Update_long

US LBM Holdings to be Sold

Kelso & Co. enters definitive agreement to purchase a majority interest in company.

The owner of building materials distributor US LBM Holdings LLC, Green Bay, WI, has agreed to sell a majority of the equity interests in the company to affiliates of another private equity firm, Kelso & Co. Terms were not disclosed, though an April report from Reuters said the sale could fetch $1 billion at auction.

The seller, BlackEagle Partners LLC, along with some US LBM executives will maintain an investment stake in the company.

“Our partnership with BlackEagle has led to the creation of a leader in building products distribution,” said L.T. Gibson, CEO of US LBM. “We are excited about Kelso’s investment in the business and the new partnership between Kelso, BlackEagle and management. We look forward to working with our shareholders to continue to build and grow the company.”

Sandy Osborne, managing director at Kelso, said, “We are pleased to be partnering with BlackEagle, L.T. and the impressive team at US LBM, both at the corporate level and at the individual business units. We are excited to support the company as it continues its growth.”

And Michael Madden, managing partner of BlackEagle, said, “We have worked alongside L.T. and his team for six years to build a world class company, and we look forward to continuing the company’s upward trajectory in partnership with Kelso.”

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.