Follow-on Offering

Industrial
Follow-on Offering

Summary

Baird served as a co-manager on this offering

About

Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE: FBM) recently completed a secondary offering of 4,750,000 common shares at a price of $17.00 per share, generating gross proceeds of $80.8 million. All of the shares sold in the offering were offered by certain affiliates of Lone Star Funds ("Lone Star" or the “selling stockholders”). In addition, the underwriters have been granted a 30-day option to purchase up to an additional 712,500 shares of common stock from the selling stockholders.

Foundation Building Materials, Inc. is one of the largest specialty distributors of wallboard, suspended ceiling systems and metal framing in the United States and Canada. Since 2013, the Company has completed more than 30 acquisitions. FBM has over 175 branches, 3,400 employees and 30,000 SKUs. FBM has a national operating model supported by local market expertise and an entrepreneurial, customer centric culture. The Company’s strong national brand and acquisition expertise have established it as the distributor of choice for leading suppliers, and the Company has over 22,000 customers across a balanced mix of construction-related end markets. FBM is headquartered in Santa Ana, California.

Lone Star Funds is a leading private equity firm that invests globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized twenty private equity funds with aggregate capital commitments totalling approximately $85 billion. Lone Star is headquartered in Dallas, Texas.
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Industrial
Follow-on Offering
Date
September 2019
Company
Foundation Building Materials, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America

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