US LBM continues Texas expansion
US LBM announced additional expansion moves in Texas with the acquisition of Oldham Lumber Company.
Oldham serves professional builders in North Texas, including the Dallas-Fort Worth market. Financial terms of the acquisition were not disclosed.
Founded in 1921, Oldham Lumber provides lumber, plywood, engineered wood and framing materials to residential builders and commercial contractors in Collin, Dallas, Denton, Hunt, Kaufman, Rockwall and Tarrant counties in North Texas.
Altogether, Oldham operates two locations including a 10-acre yard in Dallas and a 12-acre yard northeast of Dallas in Melissa, Texas that currently operates under the name McKinney Lumber and was acquired by Oldham earlier this year.
“What has made Oldham Lumber successful over the past 100 years is establishing strong relationships and creating a high-level of trust with our customers, and we're pleased to find a partner in US LBM that shares and recognizes the importance of these values," said Harley "Bubba" Finnell, Jr., who will lead Oldham Lumber as president and general manager. "Our partnership with US LBM and the benefits it brings, such as wider access to technology, a broader catalog of products and professional development opportunities, will allow Oldham, our team and customers to continue to thrive and prosper together."
Finnell was recently elected president of the Lumbermens Association of Texas.
The acquisition of Oldham Lumber is US LBM's third acquisition in Texas this year, having previously added Higginbotham Brothers, which operates 38 locations across the state, and J.P. Hart Lumber, a building products distributor and manufacturer with operations in the Austin, Houston, Dallas-Fort Worth, and San Antonio metro areas.
"Oldham's long history of building relationships and delivering outstanding levels of expertise and service has made it a name builders trust in North Texas, and we're excited to welcome the Oldham team to US LBM," said US LBM President and CEO L.T. Gibson. "The addition of Oldham strengthens US LBM's position in the Dallas-Fort Worth Metroplex, one of the nation's fastest-growing metro areas, and aligns with our other recent acquisitions and established portfolio in Texas, providing US LBM a strong network of brands in the state that serve all customer types, from national, production, multifamily, industrial and commercial builders to remodelers and homeowners.”
Based in Buffalo Grove, Ill. US LBM operates more than 400 locations nationwide.
Building Industry Advisors served as the exclusive advisor for Oldham Lumber.
