A big deal made in Texas
US LBM Holdings scored a major acquisition Friday afternoon, announcing a deal with Foxworth-Galbraith Lumber Co., one of the largest prodealers of the Southwest.
The deal, which is expected to close in the third quarter of this year, will bolster US LBM with 30 additional Southwest locations and ranks easily as one of the major deals of the year, so far.
"The addition of Foxworth-Galbraith augments our already robust network in the Southwest, expands US LBM’s reach and reinforces our strong position in several key housing markets, including the growing Dallas-Fort Worth and Phoenix metro areas."
Financial terms of the deal were not revealed.
The Foxworth Galbraith deal follows a string of US LBM acquisition announcements. Most recently: Arizona-based Truss Fab in June; Crown Components, also of Arizona, in April; and Professional Builders Supply and its 12 Carolinas locations in late 2021.
Based in Plano, Texas, Foxworth-Galbraith has been serving builders and homeowners since 1901. The company is a past recipient of the ProDealer of the Year Award, as is US LBM.
Jack Foxworth, president and CEO, stated: “US LBM shares Foxworth-Galbraith’s principles of service, integrity and providing solutions for customers and a great place to work for our people," said Foxworth-Galbraith President and CEO Jack Foxworth. "We’re excited for the many new opportunities this partnership will create for both our employees and customers."
Upon completion of the acquisition, US LBM will operate 80 locations in Texas, 13 in Arizona, nine in New Mexico, five in Colorado and four in Oklahoma. Overall, the company will operate with more than 425 locations across the country.
US LBM’s existing locations in the Southwest go to market under multiple locally recognized brand names, including R&K Building Supply, Higginbotham Brothers, Parker’s Building Supply and J.P. Hart Lumber and Components.
