Posted April 16, 2018
BlueLinx has completed acquisition of Cedar Creek. The combination of BlueLinx and Cedar Creek creates one of the largest wholesale distribution companies in the building products industry, with combined revenue of approximately $3.2 billion in 2017.
BlueLinx used net proceeds from debt issuance under its amended $750 million ABL revolving credit facility (inclusive of a $150 million accordion) and a new $180 million term loan to fund the purchase price, repay debt and to pay certain related transaction fees and expenses. Excess availability under the ABL and cash on hand as of the closing approximated $157 million.
BlueLinx Holdings Inc., operating through its wholly owned subsidiary BlueLinx Corporation, is a leading distributor of building and industrial products in the United States.
Cedar Creek is a leading building products wholesale distributor specializing in a wide variety of building products.