Kelso & Company enters into definitive agreement to purchase a majority of the equity interest in US LBM Holdings, LLC

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businesswire.com – On July 24, 2015, affiliates of Kelso & Company (“Kelso”) entered into a definitive agreement to purchase a majority of the equity interests in US LBM Holdings, LLC (“US LBM” or the “Company”). BlackEagle Partners LLC (“BlackEagle”) and certain members of Company management will be investors alongside of Kelso. US LBM is a building product material distribution business serving builders, remodelers and specialty contractors throughout the United States. The Company is headquartered in Green Bay, Wisconsin. Terms of the transaction were not disclosed.

“We have worked alongside L.T. and his team for six years to build a world-class company, and we look forward to continuing the Company’s upward trajectory in partnership with Kelso.”

“Our partnership with BlackEagle has led to the creation of a leader in building products distribution,” said L.T. Gibson, CEO of US LBM. “We are excited about Kelso’s investment in the business and the new partnership between Kelso, BlackEagle and management. We look forward to working with our shareholders to continue to build and grow the Company.”

Sandy Osborne, Managing Director at Kelso, said “We are pleased to be partnering with BlackEagle, L.T. and the impressive team at US LBM, both at the corporate level and at the individual business units. We are excited to support the Company as it continues its growth.”

Michael Madden, Managing Partner of BlackEagle, said “We have worked alongside L.T. and his team for six years to build a world-class company, and we look forward to continuing the Company’s upward trajectory in partnership with Kelso.”

Credit Suisse and Debevoise & Plimpton LLP advised Kelso on the transaction, and Harris Williams and Honigman Miller Schwartz and Cohn LLP advised US LBM.

US LBM, recipient of the 2015 ProSales Dealer of the Year Award, is a collection of leading building material distributors serving the Midwest, Northeast, Southeast, Mid-Atlantic, and Western U.S. in 22 states with approximately 160 locations. Implementing the philosophy of local management and leadership, US LBM capitalizes on the premier reputation of its operating companies and the local customer relationships that each operation is known for in its market.

Source: www.businesswire.com