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Lowe’s Companies, Inc.
Acquirer counsel
Paul Hastings
Morgan BalePartner
Damien ZoubekUS Managing Partner and Co-Head of US Corporate and M&A
Jenny HochenbergPartner
46 lawyers involved
Rainmaker
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Paul Hastings advises Lowe’s Companies, Inc. on $9 billion acquisition of Foundation Building Materials, Inc.
Deal Overview
- Value
- $9bn
- Deal type
- M&A
- Structure
- Data in progress
- Status
- Data in progress
Advisors
ACQUIRER
Paul Hastings Overview
- Lowe's is a home improvement retailer buying Foundation Building Materials, a North American distributor of interior building products with more than 370 locations across the U.S. and Canada. FBM has been built since 2011 and serves commercial and large residential professionals with products including drywall, metal framing, ceiling systems, commercial doors and insulation.
- Lowe's agreed an approximately US$8.8 billion acquisition of FBM and lined up a US$9 billion fully committed bridge financing package, with the buyer planning to fund the transaction through a mix of short-term and long-term debt.
- The deal is targeted to close in the fourth quarter of 2025, subject to customary conditions and regulatory approval, and Lowe's says it will accelerate its Total Home strategy by strengthening its Pro offering; FBM's CEO Ruben Mendoza and the senior leadership team are set to remain in place.
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Foundation Building Materials, Inc.
Seller counsel
Weil, Gotshal & Manges
Ryan TaylorAssociate
Michael E. LubowitzPartner
Ryan C. TaylorPartner
Andrew J. ColaoPartner
Heather L. EmmelPartner
25 lawyers involved
Weil, Gotshal & Manges Overview
- Foundation Building Materials is a North American distributor of interior building products including drywall, metal framing, ceiling systems, commercial doors and hardware, and insulation. Since 2011 it has built a network of more than 370 locations across the United States and Canada serving 40,000 professional customers, and it is owned by private equity sponsors American Securities and Clayton Dubilier & Rice.
- The transaction is a sale of FBM to Lowe's Companies valued at US$8.8 billion. The seller side includes FBM and its sponsor owners American Securities LLC and Clayton Dubilier & Rice LLC.
- Strategically, FBM brings Lowe's a large professional distribution platform focused on interior building products for both new construction and repair and remodel end markets. FBM's footprint spans the United States and Canada and serves large residential and commercial professionals.