Expands Geographic Reach in Colorado and New Mexico
Builders FirstSource, Inc. (NYSE: BLDR) (“Builders FirstSource”
or the “Company”) announced that it has entered into a definitive
agreement to acquire Alpine Lumber Company (“Alpine”).
Founded in Englewood, Colorado, by the Kurtz family in 1963 and
subsequently converted to a 100% employee-owned and operated
company, Alpine has 21 locations serving homebuilders and
contractors in the Front Range of Colorado, western Colorado and
northern New Mexico with a broad product range including
prefabricated trusses and wall panels and millwork.
“Alpine has long-standing customer relationships and a proven
track record of profitable growth in highly attractive markets,”
said Peter Jackson, President and CEO of Builders FirstSource.
“This acquisition aligns with our strategic pillar to deploy
capital to high-growth investments, and it enhances our footprint
in our West Division. The complementary nature of our businesses
and shared cultures of delivering exceptional customer service will
provide significant benefits to our customers, employees, and
shareholders. I am looking forward to welcoming the Alpine team
members to Builders FirstSource.”
Hamid Taha, Chief Executive Officer of Alpine, will remain with
the business for a transition period to help ensure a successful
combination of the Alpine and Builders FirstSource businesses in
Colorado and northern New Mexico. Mr. Taha stated, “This
transaction rewards the long history of dedication by Alpine’s
employee owners and positions the combined business to provide a
wider range of product categories and superior service to our
customers. We are thrilled to join the Builders FirstSource team,
and I know we have a bright future together.”
Alpine reported TTM sales of approximately $500 million as of
November 2024. The acquisition is expected to be accretive to the
Company’s adjusted earnings per share in 2025 and will be funded
through a combination of existing cash and credit facilities. It is
expected to close early in the first quarter of 2025 subject to
customary closing conditions.
Class VI Partners and Davis Graham of Denver, Colorado advised
Alpine on transaction and legal matters, respectively. Rothschild
& Co and Centerview Partners LLC acted as financial advisors,
and Alston Bird served as the legal advisor to Builders
FirstSource.
About Builders
FirstSource
Headquartered in Irving, Texas, Builders FirstSource is the
largest U.S. supplier of building products, prefabricated
components, and value-added services to the professional market
segment for new residential construction and repair and remodeling.
We provide customers an integrated homebuilding solution, offering
manufacturing, supply, delivery, and installation of a full range
of structural and related building products. We operate in 43
states with approximately 580 locations and have a market presence
in 48 of the top 50 and 90 of the top 100 MSAs, providing
geographic diversity and balanced end market exposure. We service
customers from strategically located distribution and manufacturing
facilities (some of which are co-located) that produce value-added
products such as roof and floor trusses, wall panels, stairs, vinyl
windows, custom millwork, and pre-hung doors. Builders FirstSource
also distributes dimensional lumber and lumber sheet goods,
millwork, windows, interior and exterior doors, and other specialty
building products. www.bldr.com
Forward-Looking
Statements
Statements in this news release and the schedules hereto that
are not purely historical facts or that necessarily depend upon
future events, including statements about forecasted financial
performance or other statements about anticipations, beliefs,
expectations, hopes, synergies, intentions or strategies for the
future, may be forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended.
Readers are cautioned not to place undue reliance on
forward-looking statements. In addition, oral statements made by
our directors, officers and employees to the investor and analyst
communities, media representatives and others, depending upon their
nature, may also constitute forward-looking statements. As with the
forward-looking statements included in this release, these
forward-looking statements are by nature inherently uncertain, and
actual results or events may differ materially as a result of many
factors. All forward-looking statements are based upon information
available to Builders FirstSource on the date this release was
submitted. Builders FirstSource undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Forward-looking statements involve risks and uncertainties, many of
which are beyond the Company’s control or may be currently unknown
to the Company, that could cause actual events or results to differ
materially from the events or results described in the
forward-looking statements; such risks or uncertainties include
those related to the Company’s growth strategies, including
acquisitions, organic growth and digital strategies, or the
dependence of the Company’s revenues and operating results on,
among other things, the homebuilding industry and, to a lesser
extent, repair and remodel activity, which in each case is
dependent on economic conditions, including inflation, interest
rates, consumer confidence, labor and supply shortages, and also
lumber and other commodity prices. Builders FirstSource may not
succeed in addressing these and other risks. Further information
regarding factors that could affect our financial and other results
can be found in the risk factors section of Builders FirstSource’s
most recent annual report on Form 10-K filed with the Securities
and Exchange Commission (the “SEC”) and may also be described from
time to time in the other reports Builders FirstSource files with
the SEC. Consequently, all forward-looking statements in this
release are qualified by the factors, risks and uncertainties
contained therein.
Non-GAAP Financial
Measures
The financial measure entitled Adjusted net income per share is
not a financial measure recognized under GAAP and are therefore a
non-GAAP financial measure. The Company believes that this non-GAAP
financial measures provide useful information to management and
investors regarding certain financial and business trends relating
to the Company’s financial condition and operating results.
Diluted Adjusted net income per share is defined as Adjusted net
income divided by weighted average diluted common shares
outstanding.
The Company believes that this non-GAAP financial measure
provides additional tools for investors to use in evaluating
ongoing operating results, cash flows and trends and in comparing
the Company’s financial measures with other companies in the
Company’s industry, which may present similar non-GAAP financial
measures to investors. However, the Company’s calculations of these
financial measures are not necessarily comparable to similarly
titled measures reported by other companies. Company management
does not consider these financial measures in isolation or as
alternatives to financial measures determined in accordance with
GAAP. Furthermore, items that are excluded and other adjustments
and assumptions that are made in calculating these non-GAAP
financial measures are significant components in understanding and
assessing the Company’s financial performance. These non-GAAP
financial measures should be evaluated in conjunction with, and are
not a substitute for, the Company’s GAAP financial measures.
Further, because these non-GAAP financial measures are not
determined in accordance with GAAP and are thus susceptible to
varying calculations, the non-GAAP financial measures, as
presented, may not be comparable to other similarly titled measures
of other companies.
Please see the Forward-Looking Statements section of this
release for a discussion of certain risks relevant to the Company’s
outlook.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241223612968/en/
Heather Kos SVP, Investor Relations Builders FirstSource, Inc.
investorrelations@bldr.com
Builders FirstSource (NYSE:BLDR)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Builders FirstSource (NYSE:BLDR)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
