Kelso & Co. now owns US LBM Holdings' majority stake

Global SourcesUpdated on 2023/12/01

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With BlackEagle Partners still an investor, the latter expects the partnership to expand its services in the US.

Kelso & Co. recently announced that it has indeed entered into an agreement to purchase a majority share in US LBM Holdings, one of the biggest pro-oriented building material dealers in the US. Other private equity firms like BlackEagle Partners remain investors of the latter.

According US LBM CEO L.T. Gibson in an interview with ProSales Magazine, the partnership with Kelso aids them in becoming a leader in building products distribution and resources can help expand services for the company.

US LBM engaged in a series of acquisitions as of late, such as Rosen Materials in Florida and Lampert Lumber in Minnesota.

Earlier in July, it was reported by Reuters that Kelso & Co. was seeking to acquire the lumberyard company in a deal worth $1 billion. Terms were still not disclosed despite the agreement signing.

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Kelso & Co. now owns US LBM Holdings' majority stake

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