National Lumber operates 19 facilities and employs more than 700 people across Massachusetts, Connecticut, and Rhode Island. It expects 2021 sales to be ~$440 million.
“The company’s diverse building materials and service offerings, which include prefabricated components to millwork and their strong R&R mix, will add even more depth to the value-added solutions Builders FirstSource customers rely on,” commented Dave Flitman, President and CEO of Builders FirstSource.
National Lumber President Manny Pina, along with other key members of senior leadership, will continue their tenures managing local operations following the acquisition.
“Following 87 years as a family-owned company, we are excited about our future with BFS, the biggest, and more importantly, the best supplier of building materials to professionals in the country,” said Steven Kaitz, National Lumber Co-CEO.
Builders FirstSource held cash and equivalents of $224.74 million as of September 30, 2021.
Price Action: BLDR shares are trading lower by 0.84% at $84.70 on the last check Wednesday.
(C) 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.