US LBM acquires Gilcrest/Jewett
US LBM has wasted no time expanding operations in 2021.
The Buffalo Grove, Ill.-based pro dealer giant reported that it has acquired Gilcrest/Jewett Lumber Company, the building products dealer and manufacturer with five locations in Iowa.
This news follows US LBM's acquisition of Jennings Builders Supply & Hardware, which was announced on Dec. 23.
For more than 165 years Gilcrest/Jewett has been known as Iowa's "home building headquarters" and operates four retail yard locations, along with a truss and component plant, serving the Des Moines, Iowa City, and Cedar Rapids metro markets.
Gilcrest/Jewett provides a wide range of specialty building products to professional builders and do-it-yourselfers, including windows, doors, cabinetry, countertops, flooring, roofing, and siding.
The entire Gilcrest/Jewett leadership team will remain with the company, including Sumner Worth, who will serve as president and general manager, and Rick Thompson who will serve as senior vice president of sales.
"US LBM and Gilcrest/Jewett both share the values of putting people first, innovating through technology and delivering superior products and service," Worth said. "US LBM counts some of the most well-known distributors in the industry among its divisions, and we're excited for the new opportunities this partnership brings for both our employees and customers."
"Gilcrest/Jewett boasts a strong team and is a name known for longevity, quality and innovation to not only customers in Iowa, but also across the building materials industry," said US LBM President and CEO L.T. Gibson. "Adding Gilcrest/Jewett grows our manufacturing capabilities in Iowa and expands our specialty building products distribution network into major metropolitan markets in Iowa."
Anchor Peabody served as the exclusive advisor to Gilcrest/Jewett.
US LBM operates more than 250 locations nationwide.