U.S. Markets open in 3 hrs 15 mins
  • S&P Futures

    3,634.75
    +7.50 (+0.21%)
     
  • Dow Futures

    29,888.00
    +60.00 (+0.20%)
     
  • Nasdaq Futures

    12,195.75
    +43.50 (+0.36%)
     
  • Russell 2000 Futures

    1,842.60
    -2.00 (-0.11%)
     
  • Crude Oil

    45.16
    -0.55 (-1.20%)
     
  • Gold

    1,812.20
    +1.00 (+0.06%)
     
  • Silver

    23.34
    -0.11 (-0.45%)
     
  • EUR/USD

    1.1923
    +0.0010 (+0.0835%)
     
  • 10-Yr Bond

    0.8780
    -0.0040 (-0.45%)
     
  • Vix

    21.34
    -0.30 (-1.39%)
     
  • GBP/USD

    1.3366
    +0.0010 (+0.0749%)
     
  • USD/JPY

    103.9890
    -0.2610 (-0.2504%)
     
  • BTC-USD

    16,772.65
    -394.00 (-2.30%)
     
  • CMC Crypto 200

    327.89
    -42.62 (-11.50%)
     
  • FTSE 100

    6,324.32
    -38.61 (-0.61%)
     
  • Nikkei 225

    26,644.71
    +107.40 (+0.40%)
     

Kelso Plans Sale of Building Supply Company U.S. LBM

Kiel Porter and Gillian Tan
·1 min read

(Bloomberg) -- Private equity firm Kelso & Co. is considering a sale of building-products distributor U.S. LBM Holdings LLC that could value it at about $2.5 billion, according to people familiar with the matter.

Kelso is working with an adviser to run an auction process for U.S. LBM, said the people, who asked not to be identified because the information is private. U.S. LBM, based in Buffalo Grove, Illinois, is expected to attract interest from peers and other private equity firms, the people said.

A final decision on pursuing a sale hasn’t been made and Kelso’s plans could still change, the people said.

Representatives for New York-based Kelso and U.S. LBM didn’t respond to requests seeking comment.

Kelso bought a majority stake in U.S. LBM in 2015 from BlackEagle Partners for an undisclosed sum. The company works with builders, re-modelers and specialty contractors throughout the U.S., according to its website. Its brands include Alco Doors and Raymond Building Supply, among others.

The private equity firm, which closed its 10th fund at $2.8 billion in May 2019, has also owned stakes in Eagle Foods and Global Ship Lease, according to its website.

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.