Builders FirstSource (BLDR) Acquires John's Lumber
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Builders FirstSource, Inc. (Nasdaq: BLDR) announced it has purchased the assets of John’s Lumber. John’s Lumber operates two locations serving the greater Detroit metropolitan statistical area (MSA), the No. 41 ranked single-family housing market in the country and home to nearly half the starts completed in the state of Michigan annually.
John’s Lumber was founded by Roy Aggeler in 1947 and has remained family-owned and operated ever since. The John’s Lumber team has built its reputation on a dedication to excellence in service that brings value to each and every customer who walks through the door. The company is a leading supplier of lumber and sheet goods, windows, doors, millwork, siding, decking, kitchen and bath, and installation services to homebuilders, remodel contractors and retail consumers. Revenue for the last twelve months is approximately $49 million.
“I’m happy to welcome Bill Brys and all of his team members to Builders FirstSource. John’s Lumber is known locally for having great people focused on providing high quality products and services to their customers. They will fit in very well with the people-first culture of our company. Additionally, the acquisition provides scale that will benefit our 14 current locations throughout Michigan and allow for expansion in our 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,” said Dave Flitman, President and CEO of Builders FirstSource.
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. We care deeply about our employees and community. I’m convinced Builders FirstSource is the right home for our people, providing them with access to the resources and growth opportunities that will ensure their continued success in supporting our customers.”
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