Aug 1, 2014 8:31 a.m. Eastern Standard Time
DALLAS, Aug 01, 2014 (GLOBE NEWSWIRE via COMTEX)
Builders FirstSource, Inc. BLDR, +2.46% a leading supplier and manufacturer of structural and related building products for residential new construction in the United States, today announced it has purchased West Orange Lumber Company, Inc. ("West Orange"). The transaction closed on July 31, 2014. West Orange was represented by The JIAN Group of Fredericksburg, VA.
Based in Groveland, FL, West Orange supplies lumber, roof and floor trusses, custom windows and doors, as well as installation services, to both residential homebuilders and commercial contractors in the Central Florida region. Sales were approximately $15 million for fiscal 2013.
Builders FirstSource CEO, Floyd Sherman, said, "The acquisition of West Orange provides us with an extensive customer base that includes custom and semi-custom builders, along with commercial contractors, and fits nicely within our overall growth strategy. This new location also offers onsite manufacturing capabilities of roof and floor trusses, and will allow us to more easily serve the fast growing, northern portion of the Orlando market, providing us with an excellent opportunity to significantly grow our share in this market. We welcome the employees of West Orange to the Builders FirstSource family and look forward to growing such a well-established business."
Neil Britt, owner of West Orange, added, "I am very grateful for the loyal years of service from the West Orange employees and for the long-standing supplier and customer relationships that have been built over the years. This is a great opportunity for all." John Arellano, Vice President of West Orange Lumber, will remain as the General Manager of the operation.
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction. The company operates 55 distribution centers and 49 manufacturing facilities in 9 states, principally in the southern and eastern United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. For more information about Builders FirstSource, visit the company's website at www.bldr.com.
Statements in this news release and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about expected market share gains, plans to reduce costs, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, 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. All forward-looking statements are based upon information available to Builders FirstSource, Inc. on the date this release was submitted. Builders FirstSource, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the Company's growth strategies, including gaining market share, or the Company's revenues and operating results being highly dependent on, among other things, the homebuilding industry, lumber prices and the economy. Builders FirstSource, Inc. 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, Inc.'s most recent annual report on Form 10-K filed with the Securities and Exchange Commission. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.
CONTACT: Chad Crow Senior Vice President and Chief Financial Officer Builders FirstSource, Inc. (214) 880-3585 Marcie Hyder Vice President and Corporate Controller Builders FirstSource, Inc. (214) 880-3551 Copyright (C) 2014 GlobeNewswire, Inc. All rights reserved.