Builders FirstSource acquires ProBuild

Builders FirstSource announced recently that it has bought ProBuild for $1.63 billion. The fusion of two of the US’ leading building materials providers creates the industry’s biggest lumber and building materials supplier with combined revenues of around $6.1 billion for 2014.

The combined companies would utilize their widespread network for critical customer segments, including production and custom builders, multifamily or commercial, and repair and remodel.

According to Builders FirstSource CEO Floyd Sherman in a Nasdaq press release, both companies would be able to improve their longstanding customer relationships and manufacturing and distribution capabilities. Builders FirstSource’s chairman of the board also added that the unified companies can appropriately take advantage of the current housing market recovery.