Construction materials distributor Foundation Building Materials Inc. (NYSE: FBM) is still on the growth path, and it has a new base of operations in the area.
The $700 million-valued company recently acquired two independent distribution companies for an undisclosed price.
It entered the Colorado Springs market through its acquisition of Joe’s Wallboard Supply Co., and has expanded its Pacific Northwest operations through its buy of The Supply Guy, based in Lakewood, Wash.
Joe’s Wallboard Supply distributes drywall, steel framing, insulation, and tools and fasteners, while the Supply Guy is a distributor of tools and fasteners.
“These two companies have a strong and successful history, largely created by the talent of their management and employees and long-standing customer relationships,” said Ruben Mendoza, FBM’s CEO.
Foundation Building Materials employs more than 3,400 people and operates 175-plus branches across the U.S. and Canada.
It has bought more than 30 companies since 2013, and is majority owned by private equity firm Lone Star Funds of Texas.
HQ Move
The company was one of Tustin’s largest public company; now it calls Santa Ana home.
It recently disclosed in regulatory filings a move to the Carnegie Centre office building on Red Hill Avenue, about 2 miles from its prior location.
The new headquarters, which opened last month, is about 24,060 square feet, more than double what it occupied in Tustin.
