US LBM Holdings buys former Stock location
US LBM Holdings LLC announced it completed the acquisition of Universal Supply Company.
With eight locations, Universal provides roofing, siding and other building materials to southern and central New Jersey, eastern Pennsylvania and Delaware. Universal was formerly a subsidiary of Stock Building Supply.
With this acquisition, US LBM will be comprised of 23 locations and more than 700 associates serving the professional building market with a primary focus on customers that require specialized services, such as custom homebuilders, professional remodelers as well as multifamily and commercial contractors.
Created by BlackEagle Partners, LLC and Building Industry Partners, LLC in October 2009, US LBM was built through the acquisition of three markets from Stock in Wisconsin, Central New York and Connecticut.
Through the acquisition of Universal, US LBM is now the 12th largest lumber and building materials distributor in the U.S. according to data published by ProSales Online based on 2008 net sales.
Jeff Umosella, Stock's New Jersey market manager, will remain with the business becoming president of Universal, a title he held prior to Stock's acquisition of the company in 2006.
"Each of US LBM's subsidiaries will benefit through the acquisition of such a strong business model and management team at Universal," said L.T. Gibson, president and CEO of US LBM. "The relationships that Jeff built with his customers, vendors and employees are among the best in our industry."
Commenting on the transaction, Jason Runco, Partner of BlackEagle said the acquisition demonstrates BlackEagle's commitment to US LBM as a platform in the lumber and building materials distribution industry. "We expect there to be additional opportunities in the industry to partner with leading operators in their markets," he said.
Headquartered in Green Bay, Wis., US LBM operates under the trade names of Wisconsin Building Supply, Bellevue Builders Supply, East Haven Builders Supply and Universal Supply Company.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
