TUSTIN, Calif.--(BUSINESS WIRE)--Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE:FBM), one of the largest specialty distributors of wallboard and suspended ceiling systems in the United States and Canada, announced today that it has closed the acquisition of Wallboard, Inc. (“Wallboard”) with two branch locations in the Minneapolis-St. Paul metropolitan area. Wallboard is a leading independent distributor of drywall, steel framing, insulation and finishing products primarily servicing the commercial segment as well as the multi-family segment of the residential business.
“The combination with Wallboard significantly increases FBM’s share of the Minneapolis-St. Paul market,” said Ruben Mendoza, FBM’s Chief Executive Officer. “Wallboard has a long established track record in the local market dating back to 1963 and brings very seasoned customer relationships and highly tenured employees. The acquisition will improve our ability to fully service larger contractors in the region. We look forward to partnering with Wallboard’s strong management team as FBM expands its presence in this attractive market.”
About Foundation Building Materials
Foundation Building Materials is a specialty distributor of wallboard, suspended ceiling systems, and mechanical insulation throughout the U.S. and Canada. Based in Tustin, California, the Company employs more than 3,400 people and operates more than 200 branches across the U.S. and Canada.