U.S. LBM Holdings LLC has completed its purchase of Edward Hines Lumber Co. of the Chicago area and Hines' Indianapolis area subsidiary, Hall & House, U.S. LBM president L.T. Gibson confirmed Thursday.
U.S. LBM announced the deal on Feb. 15. The acquisition closed on Monday, Gibson told ProSales.
The deal continues U.S. LBM's rapid growth from a startup last fall to what it says is roughly the 10th-largest LBM operation in the country, based on the 2009 ProSales 100. Based on that list, U.S. LBM has revenues of more than $600 million. U.S. LBM now counts 30 locations serving six states with about 850 employees.
Hines, founded in 1892, has five lumberyards and specialty centers in the Chicago area. Besides framing lumber, it sells decking, exterior and interior doors, floor and roof trusses as well as custom millwork and kitchen design. Along with acquiring those yards, U.S. LBM also plans to reopen a former Hines lication in Mokena, Ill.
Hall & House, which Hines acquired in 2008, is based in Westfield, Ind., and serves the Indianapolis market.
These may not be U.S. LBM's last acquisitions. said the company "seeks to acquire operations with No. 1 or No. 2 market share, supported by strong local management," it said in its Feb. 15 announcement.
