Builders FirstSource (BFS), the No. 6 firm on the ProSales 100, added a component manufacturer to its North Texas repertory today when it announced the acquisition of Truss Rite LLC, a maker of wood roof and floor trusses.
Located 65 miles north of Dallas and about 20 miles south of the Red River and the Oklahoma line, Truss Rite specializes in serving multifamily and commercial projects. It appears to be a growing business; sales totaled $11 million in all of fiscal 2013 but $9.8 million in just the first six months of this year.
It's the third acquisition for BFS this summer. On Aug. 1, BFS bought West Orange Lumber Co., a $15 million dealer based 30 miles west of Orlando in Groveland, Fla. And in July, BFS expanded in Houston--the nation's No. 1 housing market--by acquiring Slone Lumber. That move gave BFS its first full-service lumberyard in in Houston; until now, its only operation in the metropolis was a window manufacturing facility.
Commenting on today's transaction, Builders FirstSource CEO Floyd Sherman said, "This acquisition provides us a manufactured component business in North Texas, and expands our value-add product offering within the state. Truss Rite's focus on the multifamily market also enables us to further diversify and leverage our existing multifamily customer base in this fast-growing market"
BFS recorded $1.49 billion in sales in 2013, all of it to pros. It had 100 facilities and roughly 3,300 employees at the start of this year. On July 24, the company posted a $10.6 million net profit for the second quarter on a 7.1% rise in sales to $426.5 million, the biggest amount for any quarter since 2006.