US LBM Acquires Universal Supply Company

Grumpy

US LBM Acquires Universal Supply Company
01/19/2010
GREEN BAY, WI -- US LBM Holdings, LLC announced it completed the acquisition of Universal Supply Company, LLC. With eight locations, Universal has the leading share in its markets providing roofing, siding and other building materials to southern and central New Jersey, eastern Pennsylvania and Delaware. Universal was formerly a subsidiary of Stock Building Supply, LLC, the second largest lumber and building materials business in the U.S.

With this acquisition, US LBM broadens its product portfolio it can offer its customers through Universal's strong focus on roofing and siding as well as diversifying its revenue base in new geographic markets. US LBM will be comprised of 23 locations and more than 700 associates serving the professional building market with a primary focus on customers that require specialized services, such as custom homebuilders, professional remodelers as well as multifamily and commercial contractors.

Created by BlackEagle Partners, LLC and Building Industry Partners, LLC in October 2009, US LBM was built through the acquisition of three markets from Stock in Wisconsin, Central New York and Connecticut. Through the acquisition of Universal, US LBM is now the 12th largest lumber and building materials distributor in the U.S. according to data published by ProSales Online based on 2008 net sales.

Jeff Umosella, Stock's New Jersey Market Manager, will remain with the business becoming President of Universal, a title he held prior to Stock's acquisition of the company in 2006. "Each of US LBM's subsidiaries will benefit through the acquisition of such a strong business model and management team at Universal," said L.T. Gibson, President & CEO of US LBM. "The relationships that Jeff built with his customers, vendors and employees are among the best in our industry."

"The high quality of products and service that our customers have grown accustomed to over the past 45 years will only improve through our partnership with US LBM," added Jeff Umosella regarding the transaction. "With US LBM we have found a partner that respects the local nature of our business and will allow us to operate independently."

Commenting on the transaction, Jason Runco, Partner of BlackEagle offered, "The acquisition of Universal demonstrates our commitment to US LBM as a platform in the lumber and building materials distribution industry. We expect there to be additional opportunities in the industry to partner with leading operators in their markets."

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-Grumpy
Chicago Gutters Chicago Roofing