US LBM Holdings, LLC

SOURCE: Parker's Building Supply

Parker's Building Supply

December 18, 2015 10:00 ET

US LBM Enters Agreement to Acquire Parker's Building Supply

US LBM Enters Texas and California Markets Significantly Enhancing the Ability to Service an Expanding Customer Base; This Partnership Will Make US LBM One of the Largest Do-It-Best Dealers in the Country

BEAUMONT, TX--(Marketwired - December 18, 2015) - US LBM Holdings, LLC ("US LBM") and Parker's Building Supply announce an agreement in principle under which US LBM would acquire Parker's from owner Scott Parker. Scott will continue with the company in an advisory role and Chris Miller will take over the role as President.

Founded in 1930 by B. Wyde, Parker's operates 18 locations throughout Texas under the name of Parker's Building Supply and an additional 4 units in Southern California as Parker's Builders Supply. Parker's provides a wide array of hardware, paint, power tools, windows, doors, cabinetry, lumber, building materials, and lawn and garden tools to the DIY consumer, remodeler and professional contractor.

"We're thrilled to join the US LBM team," said Scott Parker, owner of Parker's Building Supply. "Partnering with the right company will continue to position our brand for growth and presents a great opportunity for our associates."

"Parker's business has experienced substantial growth in recent years," said Chris Miller, President of Parker's Building Supply. "Our team continues its commitment of offering a unique customer experience, and is looking forward to continued support from US LBM to acquire and open new locations across the South and California."

"US LBM is proud to have partnered with such a well-known market leader in the South," said LT Gibson, President/CEO of US LBM. "We will support Parker's continued expansion efforts with new products as well as investment in locations and acquisitions. The addition of Parker's Building Supply will make US LBM one of the largest Do-It-Best dealers in the country."

US LBM is a collection of leading building material distributors across North America operating 196 locations in 24 states. It is the 3rd largest building products distributor in the United States, and recipient of the 2015 ProSales Dealer of the Year award. US LBM implements the philosophy of local management and leadership to capitalize on the premier reputation of its operating companies and local customer relationships.

Anchor Peabody was the exclusive financial advisor to Parker's in the transaction.

The proposed US LBM/Parker's transaction is subject to normal closing conditions and should be consummated by the end of the year.

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