FBM enters New Mexico

Foundation Building Materials (FBM) has entered into New Mexico after completing its acquisition of L&P Building Supply.

Located in Albuquerque, N.M., L&P Supply has been providing stucco, exterior insulation finishing systems (EIFS), acrylic plasters, and related accessories to the New Mexico market for almost 60 years.  

Former ownership will be staying on with FBM to help transition and manage the business.  

The financial terms of the acquisition were not disclosed.

This move follows announced the completion of two acquisitions earlier this year.

In January, FBM acquired Hudson Interior Supply with four locations within the Greater New York/North New Jersey markets. Hudson Interior Supply is a distributor of drywall, steel framing, ceiling products, insulation, and complementary products and has been in business since 1947. 

Part of the acquisition also includes a large wholesale lumber distributor location and two ACE hardware and tool businesses (Hudson Supply of Newark).

FBM also entered into West Virginia after acquiring Architectural Interior Products (AIP) with four locations covering all major markets in the state. 

AIP is market leader in the commercial building products space and is an exclusive provider of Armstrong Ceilings, FBM said. Additionally, AIP brings a commercial door business to FBM.

Based in Santa Ana, Calif., FBM specializes in distributing drywall, steel studs, lath, plaster, stucco, acoustical ceilings, insulation, fiberglass reinforced panels (FRP), and EIFS. 

The company operates more than 250 locations in the United States and Canada. 

American Securities, a New York-based investment firm, acquired FBM in January 2021 in deal valued at approximately $1.37 billion.

Less than a month later, American Securities closed on its acquisition of Beacon's interior building products business, including 81 branch locations, in an $850 million purchase.