BELOIT, Wis. – ABC Supply Co., Inc. has signed a definitive agreement to acquire L&W Supply from USG Corporation (United States Gypsum Corporation). L&W Supply is a specialty distributor of drywall, ceiling tiles, steel framing and other building materials used by commercial and residential contractors. The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the fourth quarter.
The deal is valued at $670 million, according to a joint press release.
This transaction is one of ABC’s largest acquisitions to date and comes on the heels of the integration of Norandex Building Materials Distribution in late 2015. “We are thrilled to welcome the associates, customers and suppliers of L&W Supply into the ABC family,” said Keith Rozolis, ABC Supply’s President and Chief Executive Officer. “As a world-class distributor of interior building materials, L&W reinforces ABC’s leadership position in building materials distribution and helps set the stage for our next phase of growth.”
With the L&W Supply acquisition, the company will operate over 700 locations in 49 states with combined annual sales of over $8 billion. L&W Supply will operate as a separate division of ABC Supply.
Source: ABC Supply