U.S. markets closed
  • S&P 500

    3,841.47
    -11.60 (-0.30%)
     
  • Dow 30

    30,996.98
    -179.03 (-0.57%)
     
  • Nasdaq

    13,543.06
    +12.15 (+0.09%)
     
  • Russell 2000

    2,168.76
    +27.34 (+1.28%)
     
  • Crude Oil

    51.98
    -1.15 (-2.16%)
     
  • Gold

    1,855.50
    -10.40 (-0.56%)
     
  • Silver

    25.57
    -0.29 (-1.12%)
     
  • EUR/USD

    1.2174
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    1.0910
    -0.0180 (-1.62%)
     
  • GBP/USD

    1.3684
    -0.0046 (-0.34%)
     
  • USD/JPY

    103.7700
    +0.2650 (+0.26%)
     
  • BTC-USD

    31,814.37
    +20.04 (+0.06%)
     
  • CMC Crypto 200

    651.44
    +41.45 (+6.79%)
     
  • FTSE 100

    6,695.07
    -20.35 (-0.30%)
     
  • Nikkei 225

    28,631.45
    -125.41 (-0.44%)
     

US LBM Acquires Gilcrest/Jewett Lumber Company

·2 min read

Building materials leader expands its presence in Iowa

DES MOINES, Iowa, Jan. 4, 2021 /PRNewswire/ -- US LBM, a leading distributor of specialty building materials in the United States, has acquired Gilcrest/Jewett Lumber Company, a building products dealer and manufacturer with five locations in Iowa.

U.S. LBM Logo (PRNewsfoto/US LBM)
U.S. LBM Logo (PRNewsfoto/US LBM)

For more than 165 years, Gilcrest/Jewett has been known as Iowa's "home building headquarters" and operates four retail yard locations, along with a truss and component plant, serving the Des Moines, Iowa City and Cedar Rapids metropolitan areas. Gilcrest/Jewett provides a wide range of specialty building products to professional builders and do-it-yourselfers, including windows, doors, cabinetry, countertops, flooring, roofing and siding.

The entire Gilcrest/Jewett leadership team will remain with the company, including Sumner Worth, who will serve as president and general manager, and Rick Thompson who will serve as senior vice president of sales.

"US LBM and Gilcrest/Jewett both share the values of putting people first, innovating through technology and delivering superior products and service," said Gilcrest/Jewett President Sumner Worth. "US LBM counts some of the most well-known distributors in the industry among its divisions, and we're excited for the new opportunities this partnership brings for both our employees and customers."

"Gilcrest/Jewett boasts a strong team and is a name known for longevity, quality and innovation to not only customers in Iowa, but also across the building materials industry," said US LBM President and CEO L.T. Gibson. "Adding Gilcrest/Jewett grows our manufacturing capabilities in Iowa and expands our specialty building products distribution network into major metropolitan markets in Iowa."

Anchor Peabody served as the exclusive advisor to Gilcrest/Jewett.

US LBM is a leading distributor of specialty building materials in the United States. Offering a comprehensive portfolio of specialty products, including windows, doors, millwork, wallboard, roofing, siding, engineered components and cabinetry, US LBM combines the scale and operational advantages of a national platform with a local go-to-market strategy through its national network of locations across the country. For more information, please visit www.uslbm.com.

Contact:

Timothy Wirth


US LBM Communications


484-886-5705


tim.wirth@uslbm.com

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-lbm-acquires-gilcrestjewett-lumber-company-301200527.html

SOURCE US LBM