Santa Ana, CA-based building materials distributor Foundation Building Materials, Inc acquired REW Materials for $600 million. The company quietly announced the news in early April.

S&P Global reported April 14 that FBM planned to issue a new $350 million Term Loan B-3 and utilize $250 million in asset-based lending to finance the transaction.

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Based in Lenexa, KS, REW Materials is a supplier of building materials, offering interior and exterior construction products across 23 states. The company provides customers with a range of products, including steel framing, drywall, FRP panels, fire-treated wood, insulation, USG ceiling tile & grid and more.

In an April 4 news blurb, FBM said the integration of 800 REW employees and 45 distribution branches will enhance and broaden the company’s national presence. These new team members and facilities enable FBM to expand its product offerings for builders, contractors and the broader construction industry.

Private equity firm American Securities — which acquired FBM in 2021 — has a majority ownership stake in the company, while fellow PE firm Clayton, Dubilier & Rice acquired a “significant” stake in FBM from American Securities in early 2024.

FBM’s previously most recent acquisitions were of Washington-based Empire Drywall Supply in December and New Jersey-based Unified Door & Hardware in September.