Builders FirstSource Acquires Certain Assets of Slone Lumber Company
July 1, 2014 (Dallas, TX) - Builders FirstSource, Inc. (NasdaqGS: BLDR), a leading supplier and manufacturer of structural and related building products for residential new construction in the United States, today announced it has purchased Houston, TX-based Slone Lumber Company, Inc. ("Slone"). The transaction closed on June 30, 2014. Danny McQuary of Note Orius, Inc. served as financial advisor to Slone in the transaction.
Slone is a full-line building materials supplier with sales of approximately $17 million in 2013. Slone's product offerings include lumber, engineered beams, interior and exterior door units, moulding, trim and cabinets. Slone also offers installation services on exterior doors, shutters and cabinets.
Floyd Sherman, Builders FirstSource Chief Executive Officer, said, "The Slone purchase adds to our presence and gives us a solid platform to further expand our business in the highly attractive, greater Houston market. It provides us a top-quality distribution business, outstanding employees and an established customer base to complement our existing window manufacturing operations in the surrounding area. We are very pleased to be adding Slone's employees to the Builders FirstSource team, and look forward to working along-side them."
Gregg Slone, owner and President of Slone Lumber, will remain as the General Manager of the operation. He added, "This is an exciting time and a great opportunity for the company and our people. We look forward to joining Builders FirstSource and becoming part of one of the nation's leading suppliers to the residential construction industry."
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction. The company operates 54 distribution centers and 47 manufacturing facilities in 9 states, principally in the southern and eastern United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. For more information about Builders FirstSource, visit the company's website at www.bldr.com.
Statements in this news release and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about expected market share gains, plans to reduce costs, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to Builders FirstSource, Inc. on the date this release was submitted. Builders FirstSource, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the Company's growth strategies, including gaining market share, or the Company's revenues and operating results being highly dependent on, among other things, the homebuilding industry, lumber prices and the economy. Builders FirstSource, Inc. may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource, Inc.'s most recent annual report on Form 10-K filed with the Securities and Exchange Commission. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.
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Builders FirstSource, Inc.
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Builders FirstSource, Inc.