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Report: US LBM Up for Sale

Building materials distributor's private equity owner seeking $1 billion at auction, according to Reuters.

Building materials distributor US LBM Holdings LLC, Green Bay, WI, is for sale and could fetch $1 billion at auction, according to a report from Reuters.

Citing people familiar with the matter, Reuters said the company's private equity owner, BlackEagle Partners LLC, hired Harris Williams & Co to hold an auction for the company. The report said the "sources asked not to be identified because the sale process is confidential," and that US LBM, BlackEagle Partners and Harris Williams all declined to comment.

US LBM is collection of building material distributors across 22 states with 157 locations, and the company has been acquisitive in 2015 with four purchases already this year.

The sale would be another major deal for the building materials sector. Last week, Builders FirstSource Inc., Dallas, TX, a supplier and manufacturer of structural and related building products for residential new construction in the U.S., agreed to acquire ProBuild Holdings LLC for $1.6 billion.

That purchase will unite two of the largest building materials companies in the U.S.; ProBuild was No. 2 and Builders FirstSource was No. 7 on the sector's 2014 MDM Market Leaders list. Builders FirstSource reported sales for 2014 of $1.6 billion, up 7.7 percent over the previous year, and ProBuild Holdings had estimated annual sales of $4.3 billion in 2014.

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