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Foundation Sells Business Unit

Tustin-based Foundation Building Materials Inc. (NYSE: FBM), a distributor of building products, said Thursday it will sell its mechanical insulation business to Dunes Point Capital LP of Rye, N.Y., for $122.5 million.

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OC 500: Ruben Mendoza

Heads national distributor, wallboard, suspended ceiling systems, related products … founded with single SoCal branch 2011 … PE-backed aggressive rollup strategy … 8 acquisitions YTD through Q2 … one of largest in its industries … 200 branches, U.S., Canada … 30K clients; 35K products … second-largest U.S. gypsum wallboard distributor … Feb. IPO $179M … recent market cap $600M’

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