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US LBM, Buffalo Grove, Il., has signed a definitive agreement for Bain Capital Private Equity to acquire a majority stake in the company. US LBM will continue to operate under the leadership of president and CEO L.T. Gibson and the current management team.
Founded in 2009 with 16 locations in three states, US LBM has grown to be a leading national distributor of specialty building materials operating more than 250 locations. Its unique operating model combines the advantages of its national scale and central team of industry experts with the high service levels, local expertise, entrepreneurial culture, and excellent customer relationships of its 37 operating divisions. It has grown through both acquisitions and the opening of more than 30 greenfield locations, including six this year.
Bain’s global experience in building materials includes investments in businesses such as HD Supply and MKM Building Supplies.
Kelso & Co. has been US LBM’s investment partner since August 2015.
The transaction is expected to close this month.