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Mergers and Acquisitions
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Shareholders approve merger of LBM Advantage, IBSA
With overwhelming support of their shareholders, lumber and building material buying cooperatives LBM Advantage and Independent Builders Supply Association (IBSA) completed their vote today in favor of the Plan of Merger. “It is exciting to move this strategic merger forward. The shareholders have voted and confirmed their support to merge the membership and capabilities of these two great cooperatives,” notes Steve Sallah, president and CEO of LBM Advantage. “The increased breadth, the quality of our combined memberships and the regional diversification this merger offers will provide a greater value to our member-dealers today and into the future.” IBSA’s President Tim Johnson agreed, “The merger is a great fit and will improve the competitive position for all of our dealers. Our regions complement each other and provide the ability to execute National Buying Power while maintaining regional skills and market expertise.” A target date of fourth quarter 2017 has been set to complete the merger. The combined membership will span 34 states with 585 members and over 1,000 lumber yards.
BMC announces acquisitions
BMC Stock Holdings, Inc.has acquired substantially all of the assets and assumed certain liabilities of Texas Plywood & Lumber Company, Inc. and Code Plus Components, LLC. Through these acquisitions, BMC enhances its footprint in the Dallas/Fort Worth and Washington, D.C. markets, respectively. “We are very pleased to expand our product offerings and capabilities in both the Dallas/Fort Worth and Washington, D.C. areas with the acquisitions of TexPly and Code Plus,” said Peter Alexander, president and CEO of BMC. For more, click here...
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