American Securities and CD&R Complete $8.8B Foundation Building Materials Sale

Rhea-AI Summary

Lowe's (NYSE: LOW) completed the acquisition of Foundation Building Materials on October 9, 2025 in a transaction valued at approximately $8.8 billion. Foundation Building Materials is a North American distributor of interior building products including drywall, metal framing, ceiling systems, commercial doors and hardware, and insulation.

Under prior owners American Securities and CD&R, FBM grew to a network of over 370 locations serving 40,000 Pro customers and delivered 27% per annum revenue growth and 31% per annum EBITDA growth since 2021. FBM will join Lowe's Total Home strategy to expand products and services for Pro and consumer customers.

Positive

• $8.8B acquisition completed on October 9, 2025
• 370+ locations across the United States and Canada added to Lowe's footprint
• 27% revenue CAGR and 31% EBITDA CAGR at FBM since 2021

Negative

• None.

NEW YORK, Oct. 9, 2025 /PRNewswire/ -- American Securities LLC ("American Securities") and CD&R today announced they completed the sale of Foundation Building Materials, Inc. ("FBM" or the "Company"), a leading building materials and construction products distribution company, to Lowe's Companies, Inc. ("Lowe's") (NYSE: LOW), in a transaction valued at approximately $8.8 billion.

FBM is a leading North American distributor of interior building products, including drywall, metal framing, ceiling systems, commercial doors and hardware, insulation and complementary products serving large residential and commercial professionals in both new construction and repair and remodel applications. FBM will join Lowe's Total Home strategy, which provides a full complement of products and services for Pros and Consumers alike, enabling a Total Home solution for every need in the home.

Kevin Penn, Partner at American Securities, commented: "We want to thank Ruben Mendoza and the entire Foundation Building Materials team for their exceptional partnership over the last four and a half years, and we are excited to see the company enter its next chapter under Lowe's ownership."

"We are proud to have supported Ruben Mendoza and the FBM team as they set the foundation for accelerated organic growth and strengthened the business," said Tyler Young, Principal at CD&R. "We believe FBM will be an outstanding platform in partnership with Lowe's to serve pro customers and build on long-standing supplier relationships."

Under the ownership of American Securities and CD&R, FBM became an industry leader, with a network of over 370 locations in the United States and Canada serving 40,000 Pro customers. Since its acquisition in 2021, the company has experienced exceptional growth resulting in 27% per annum revenue growth and 31% per annum EBITDA growth.

About FBM 
Founded in 2011 and headquartered in Santa Ana, California, FBM is an industry-leading building materials and construction products distribution company. With over 370 locations across the U.S. and Canada, FBM has an expansive North American reach with a mission to serve the changing needs of the professional construction trades. For more information, visit www.fbmsales.com.

About American Securities 
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $23 billion under management. For more information, visit www.american-securities.com.

About CD&R 
Founded in 1978, CD&R is a leading private investment firm with a strategy of generating strong investment returns by building more robust and sustainable businesses through the combination of skilled investment experience and deep operating capabilities. In partnership with the management teams of its portfolio companies, CD&R takes a long-term view of value creation and emphasizes positive stewardship and impact. The firm invests in businesses that span a broad range of industries, including industrial, healthcare, consumer, technology and financial services end markets. CD&R is privately owned by its partners and has offices in New York and London. For more information, please visit www.cdr.com and follow the firm's activities through LinkedIn and @CDRBuilds on X/Twitter.

Media Contacts 
Prosek Partners for American Securities
Joshua Rosen / Devin Shorey
pro-americansecurities@prosek.com

CD&R
Jon Selib
jselib@cdr.com

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SOURCE American Securities LLC

FAQ

What did Lowe's (LOW) acquire on October 9, 2025?

Lowe's acquired Foundation Building Materials in a transaction valued at approximately $8.8 billion.

How large is Foundation Building Materials' network being added to Lowe's (LOW)?

FBM operates a network of over 370 locations across the United States and Canada.

What customer base does FBM bring to Lowe's (LOW)?

FBM serves about 40,000 Pro customers focused on new construction and repair/remodel applications.

What growth did FBM report under American Securities and CD&R?

Since 2021 FBM reported approximately 27% per annum revenue growth and 31% per annum EBITDA growth.

How will the FBM deal affect Lowe's Total Home strategy?

FBM will join Lowe's Total Home strategy to provide expanded products and services for both Pro and consumer customers.

When was the Foundation Building Materials sale to Lowe's announced as completed?

The sale was announced as completed on October 9, 2025.