Builders FirstSource, Inc. has entered into a definitive agreement to acquire Cornerstone Building Alliance SW, LLC (“Alliance”), for approximately $400 million, subject to certain closing adjustments.
Alliance is the largest independently operated supplier of building materials in Arizona, primarily serving the greater Phoenix, Tucson, and Prescott Valley metropolitan areas.
Alliance reported TTM sales of approximately $330 million as of April 2021. The acquisition is expected to be accretive to the Company’s adjusted earnings per share in 2021 and will be funded through a combination of existing cash and credit facilities. It is expected to close around the end of the 2Q 2021, subject to customary closing conditions and approvals.
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling.