US LBM, No. 13 on the ProSales 100 list in 2014, announced today the acquisition of Dyersville, Iowa-based Lumber Specialties,the self-proclaimed largest independent truss and wall panel manufacturer in the Midwest.
The deal will allow US LBM to further its mission of partnering with leading industry firms to expand its footprint in the U.S.
“We are very pleased to have the Lumber Specialties team join US LBM and further our reach and abilities for truss and panel products,” the firm’s president/CEO, L.T. Gibson, said in a press release. “Lumber Specialties has state‐of‐the‐art facilities, a first‐rate group of associates, and we are happy to have them on the US LBM team.”
This is the latest in a number of purchases the lumber and building materials distributor made this year. Just last week, the Green Bay, Wis.-based company acquired American Masons and Building Supply, a distributor of wallboard, steel framing, insulation, acoustical, and masonry supplies in Hartford, Conn. And in November, US LBM took the Grand Rapids, Mich. distributor Standard Companies as well as K-I Lumber & Building Materials of Kentucky into its fold.
“This new partnership will allow Lumber Specialties to continue to grow as a company and improve our operations and enhance customer service, said Dennis Westhoff, who became president of Lumber Specialties as a result of the purchase. “The opportunity for growth for our employees and vendors is amazing.”
Founded in 2009, US LBM has rapidly grown to consist of 17 leading building material distributors with more than 90 locations in 19 states. Last year, the company recorded $815 million in total sales, 95% of them to pros.
Lumber Specialties was established 31 years ago with 10 employees and now has a staff of nearly 220 associates who operate out of its two facilities in Dyersville and Iowa City.