Builders FirstSource Acquires Schoeneman's Building Materials Center
Originally Published by: LBM Journal — May 14, 2024
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1stWEST Mergers and Acquisitions, the leading investment bank and M&A advisory in the building material sector, announced that its client, Schoeneman’s Building Materials Center, has been acquired by Builders FirstSource.
1stWEST M&A served as Schoeneman’s advisor throughout the successful transaction. Due to Builders FirstSource’s remarkably efficient due-diligence process, the Schoeneman’s acquisition was closed within 45 days of the signing of the letter of intent.
“Since 1888, Schoeneman’s has established itself as a trusted name with experienced staff and a large selection of building materials and products. They provide convenient and exceptional service for their customers and support their communities in South Dakota and Iowa,” according to the company.
“M&A activity in the LBM (lumber and building material) sector has never really slowed down, despite the volatility of interest rates. Great companies continue to find excellent acquisition values, and acquirers clearly have the liquidity to add to their portfolios,” said John D. Wagner, a Managing Director at 1stWEST M&A. “In this case, Builders FirstSource has obtained a real gem in its acquisition of Schoeneman’s, a company whose top-shelf reputation stretches far and wide.”