\nBuilders FirstSource, Inc. (NYSE: BLDR) (\u201cBuilders FirstSource\u201d or the \u201cCompany\u201d) announced that it has entered into a definitive agreement to acquire Alpine Lumber Company (\u201cAlpine\u201d).<\/p>\n
\nFounded in Englewood, Colorado, by the Kurtz family in 1963 and subsequently converted to a 100% employee-owned and operated company, Alpine has 21 locations serving homebuilders and contractors in the Front Range of Colorado, western Colorado and northern New Mexico with a broad product range including prefabricated trusses and wall panels and millwork.<\/p>\n
\n\u201cAlpine has long-standing customer relationships and a proven track record of profitable growth in highly attractive markets,\u201d said Peter Jackson, President and CEO of Builders FirstSource. \u201cThis acquisition aligns with our strategic pillar to deploy capital to high-growth investments, and it enhances our footprint in our West Division. The complementary nature of our businesses and shared cultures of delivering exceptional customer service will provide significant benefits to our customers, employees, and shareholders. I am looking forward to welcoming the Alpine team members to Builders FirstSource.\u201d<\/p>\n
\nHamid Taha, Chief Executive Officer of Alpine, will remain with the business for a transition period to help ensure a successful combination of the Alpine and Builders FirstSource businesses in Colorado and northern New Mexico. Mr. Taha stated, \u201cThis transaction rewards the long history of dedication by Alpine\u2019s employee owners and positions the combined business to provide a wider range of product categories and superior service to our customers. We are thrilled to join the Builders FirstSource team, and I know we have a bright future together.\u201d<\/p>\n
\nAlpine reported TTM sales of approximately $500 million as of November 2024. The acquisition is expected to be accretive to the Company\u2019s adjusted earnings per share in 2025 and will be funded through a combination of existing cash and credit facilities. It is expected to close early in the first quarter of 2025 subject to customary closing conditions.<\/p>\n
\nClass VI Partners and Davis Graham of Denver, Colorado advised Alpine on transaction and legal matters, respectively. Rothschild & Co and Centerview Partners LLC acted as financial advisors, and Alston Bird served as the legal advisor to Builders FirstSource.<\/p>\n
About Builders FirstSource<\/span><\/b><\/p>\n \nHeadquartered in Irving, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery, and installation of a full range of structural and related building products. We operate in 43 states with approximately 580 locations and have a market presence in 48 of the top 50 and 90 of the top 100 MSAs, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (some of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork, and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other specialty building products. www.bldr.com<\/a><\/p>\n Forward-Looking Statements<\/span><\/b><\/p>\n \nStatements in this news release and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, synergies, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results or events may differ materially as a result of many factors. All forward-looking statements are based upon information available to Builders FirstSource on the date this release was submitted. Builders FirstSource undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements involve risks and uncertainties, many of which are beyond the Company\u2019s control or may be currently unknown to the Company, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements; such risks or uncertainties include those related to the Company\u2019s growth strategies, including acquisitions, organic growth and digital strategies, or the dependence of the Company\u2019s revenues and operating results on, among other things, the homebuilding industry and, to a lesser extent, repair and remodel activity, which in each case is dependent on economic conditions, including inflation, interest rates, consumer confidence, labor and supply shortages, and also lumber and other commodity prices. Builders FirstSource may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource\u2019s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) and may also be described from time to time in the other reports Builders FirstSource files with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.<\/p>\n Non-GAAP Financial Measures<\/span><\/b><\/p>\n \nThe financial measure entitled Adjusted net income per share is not a financial measure recognized under GAAP and are therefore a non-GAAP financial measure. The Company believes that this non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to the Company\u2019s financial condition and operating results.<\/p>\n \nDiluted Adjusted net income per share is defined as Adjusted net income divided by weighted average diluted common shares outstanding.<\/p>\n \nThe Company believes that this non-GAAP financial measure provides additional tools for investors to use in evaluating ongoing operating results, cash flows and trends and in comparing the Company\u2019s financial measures with other companies in the Company\u2019s industry, which may present similar non-GAAP financial measures to investors. However, the Company\u2019s calculations of these financial measures are not necessarily comparable to similarly titled measures reported by other companies. Company management does not consider these financial measures in isolation or as alternatives to financial measures determined in accordance with GAAP. Furthermore, items that are excluded and other adjustments and assumptions that are made in calculating these non-GAAP financial measures are significant components in understanding and assessing the Company\u2019s financial performance. These non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, the Company\u2019s GAAP financial measures. Further, because these non-GAAP financial measures are not determined in accordance with GAAP and are thus susceptible to varying calculations, the non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures of other companies.<\/p>\n \nPlease see the Forward-Looking Statements section of this release for a discussion of certain risks relevant to the Company\u2019s outlook.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241223612968\/en\/<\/a><\/span><\/p>\n \nHeather Kos KEYWORDS:<\/b> Colorado New Mexico Texas United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Architecture Construction & Property Natural Resources Building Systems Other Construction & Property Interior Design Forest Products Residential Building & Real Estate<\/p>\n<\/p>\n
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SVP, Investor Relations
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Builders FirstSource, Inc.
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investorrelations@bldr.com<\/a><\/p>\n
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