Builders FirstSource makes a deal
Builders FirstSource says it entered into a deal that will allow it to reduce its long-term debt by about $11.0 million, and reduce its annual cash interest expense by about $7.7 million.
The Dallas-based LBM giant announced the transaction Monday morning. Specifically, BLDR entered into a private note exchange transaction. Following the transactions, remaining outstanding will be $557.6 million aggregate principal amount of 2021 notes and $481.4 million aggregate principal amount of 2023 notes.
Based in Dallas, Builders FirstSource is the nation’s largest LBM dealer. On Aug. 3, 2015, the company completed its acquisition of ProBuild Holdings. Today it operates in 40 states with over 425 locations and a market presence in 74 of the top 100 metropolitan statistical areas.
The company was named the 2015 HBSDealer Pro Dealer of the Year.
Foreverbolt innovates in the stainless steel arena
Foreverbolt has released its NL-19 treatment after 15 years of lab testing and development.
The advanced corrosion protection treatment modifies the surface of stainless steel products for a brighter, stronger and more corrosion-resistant finish that won't affect the fastener's exterior dimensions.
"Stainless steel fasteners have remained unchanged since their creation nearly 80 years ago," said company founder Patrick Vogel. "Under normal conditions ordinary stainless fasteners will corrode and fail, resulting in unwanted replacement and maintenance costs. The NL-19 treatment modifies the surface of stainless steel fasteners in a way that increases their corrosion resistance by more than 7x. Not only were we successful in preventing corrosion but after treatment, the fasteners are 1.9% stronger. It's nothing short of amazing!"
"With so many industries needing corrosion-resistant fasteners, we are experiencing a high demand for our NL-19 treated products," adds Vogel. "We could not be more thrilled to have teamed up with Grainger to bring this technology to the marketplace."