Dallas-based Builders FirstSource purchased Truss Rite, marking the company's third acquisition of the summer.
Truss Rite, based in Sherman, Texas (about 65 miles north of Dallas), primarily manufactures wood roof and floor trusses for large multi-family and commercial projects throughout Texas and parts of Oklahoma. They predominately serve developers and general contractors in the multi-family residential housing sector. Sales were approximately $11 million for fiscal 2013, while June 2014 year-to-date sales were $9.8 million.
Commenting on the transaction, Builders FirstSource CEO, Floyd Sherman, said: "This acquisition provides us a manufactured component business in North Texas, and expands our value-add product offering within the state. Truss Rite's focus on the multi-family market also enables us to further diversify and leverage our existing multi-family customer base in this fast-growing market. We are excited about the business' future growth prospects and welcome the employees of Truss Rite to the Builders FirstSource family."
Current Truss Rite general manager, Randy Rice, who will lead the operation, added: "This acquisition gives Truss Rite the chance to join a well-established and financially strong leader in the construction industry. This transaction should provide a great opportunity for growth for both our business and our employees."
Builders FirstSource operates 55 distribution centers and 50 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.