Builders FirstSource acquires John's Lumber
Just a day removed from reporting mammoth sales and earnings increases for its first quarter, Builders FirstSource announced that it has acquired John’s Lumber.
Based in Clinton Township, Mich., John’s Lumber operates two locations and serve the Detroit metro area. Builders FirstSource said the move gives it a firm foothold in the 41st largest single-family housing market in the nation, including a region where half the state’s housing starts are completed annually.
Revenue at John’s Lumber for the past 12 months was approximately $49 million. Financial terms of the acquisition were not disclosed.
“I’m happy to welcome Bill Brys and all of his team members to Builders FirstSource,” said Dave Flitman, CEO of Builders FirstSource. “John’s Lumber is known locally for having great people focused on providing high-quality products and services to their customers.”
Builders FirstSource already operates 14 locations throughout Michigan. Flitman said the acquisition will benefit its current yards in the state and allow for expansion in the dealer’s value-added product offerings.
“We will continue to reinvest in our business and pursue accretive tuck-in acquisitions that create value for our business and our customers,” Flitman noted.
Mike Aggeler, a family owner and board member of John’s Lumber, added, “My dad’s philosophy was simple – treat customers right, and they will return time after time. Having grown up in and around the business, it was a very difficult decision for my siblings and me to sell the company. Builders FirstSource understood the needs of our family and was very easy to work with throughout this process.”
Based in Dallas, Texas, Builders FirstSource operates nearly 550 locations in 40 states.
On May 6, Builders FirstSource reported first quarter 2021 sales increased 133.6%, fueled by its Jan. 1 merger with BMC and a strong residential construction market.
