Foundation Building Materials, Inc. Acquires Ceiling and Wall Supply, Inc.

TUSTIN, Calif.--(BUSINESS WIRE)-- Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE: FBM), one of the largest specialty distributors of wallboard and suspended ceiling systems in the United States and Canada, announced today that it has closed the acquisition of Ceiling and Wall Supply, Inc. (“CWS”). CWS is a leading independent distributor of Armstrong suspended ceiling systems, drywall, steel framing, insulation, and Dryvit products. CWS has a 35-year track record and operates five branches in Missouri, Illinois and Kentucky.

“The transaction with CWS will allow FBM to strengthen our number one ceilings position in North America through a deeper Midwest market presence and entry into the Eastern Missouri, Southern Illinois and Western Kentucky markets. The acquisition will also allow us to introduce our complementary products into these new markets and drive further value for FBM shareholders. CWS has an experienced and passionate management team with strong customer relationships combined with deep relationships with our largest vendors making CWS a natural fit for FBM,” said Ruben Mendoza, FBM’s Chief Executive Officer.

About Foundation Building Materials

Foundation Building Materials is a specialty distributor of wallboard, suspended ceiling systems, and mechanical insulation throughout the U.S. and Canada. Based in Tustin, California, the Company employs more than 3,400 people and operates more than 200 branches across the U.S. and Canada.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170705006097/en/

Investor Relations:
Foundation Building Materials, Inc.
657-900-3200
[email protected]
or
Media Relations:
Joele Frank, Wilkinson Brimmer Katcher
Jed Repko or Ed Trissel
212-355-4449

Source: Foundation Building Materials, Inc.

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