Specialty building materials distributor US LBM announced it has reached a definitive agreement to acquire Texas-based building products supplier Foxworth-Galbraith Lumber Company. Upon completion of the acquisition, US LBM will operate 80 locations in Texas, 13 stores in Arizona, nine branches in New Mexico, five locations in Colorado, and four branches in Oklahoma.
“US LBM shares Foxworth-Galbraith’s principles of service, integrity, and providing solutions for customers and a great place to work for our people,” Foxworth-Galbraith president and CEO Jack Foxworth said in a news release. “We’re excited for the many new opportunities this partnership will create for both our employees and customers.”
Foxworth-Galbraith, founded by W.L. Foxworth and H.W. Galbraith in 1901, operates 28 locations across Arizona, Colorado, New Mexico, and Texas under the Foxworth-Galbraith brand name and two locations in Oklahoma under the Forest Lumber brand. The company primarily serves builders, commercial contractors, and homeowners, which Foxworth-Galbraith serves from its building materials yards, distribution centers, home centers, and manufacturing locations, which are focused on floor and roof trusses and structural beams.
“Over the past 120 years, the Foxworth and Galbraith families and generations of associates have built one of the most widely respected and successful building materials distributors in the industry, and we are proud that they will be joining US LBM,” US LBM president and CEO L.T. Gibson said. “The addition of Foxworth-Galbraith augments our already robust network in the Southwest, expands US LBM’s reach, and reinforces our strong position in several key housing markets, including the growing Dallas-Fort Worth and Phoenix metro areas.”
The transaction is expected to close later in the third quarter of 2022, subject to customary closing conditions.
US LBM currently operates in the Southwest under multiple locally-recognized brand names, including R&K Building Supply, Higginbotham Brothers, Parker’s Building Supply, and J.P. Hart Lumber and Components.
Buffalo Grove, Ill.-based US LBM has expanded at a rapid pace following private equity firm Bain Capital Private Equity in November 2020. The distributor has completed around 20 acquisitions since November 2020, including deals to acquire Professional Builders Supply, American Construction Source, Oldham Lumber, and Higganbotham Brothers. US LBM offers a portfolio of specialty products, including windows, doors, millwork, wallboard, roofing, siding, engineered components, and cabinetry.