Simpson Thacher is representing American Construction Source LLC (“ACS”) in connection with its definitive agreement to be acquired by US LBM. The transaction is subject to customary approvals and is expected to close in the second half of 2021. Financial terms of the transaction were not disclosed.
ACS, which was formed in 2018 by Angeles Equity Partners, LLC and Clearlake Capital Group, L.P., is a leading national building materials distribution platform for custom home builders and repair and remodel contractors.
US LBM is a leading distributor of specialty building materials in the United States.
The Simpson Thacher team included Greg Klein, Jonathan Conigliari, Koh Tanimoto and Sherry Shen (M&A); Sophie A. Staples and Edward Grais (Tax); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Lori Lesser and Kate Mirino (IP); Peter Guryan, Kelly Karapetyan, Richard Jamgochian, John Goheen and Andrew Jensen (Antitrust); Christopher Brown and Cem Islikci (Credit); Michael Isby (Environmental); Dennis Loiacono (Real Estate); and Steven DeLott (Insurance). Summer associate Jason Cernius provided valuable assistance.