US LBM Holdings

US LBM was founded in 2009 when BIP principals partnered with pro dealer industry veteran L.T. Gibson and co-sponsor Black Eagle Partners. Together the co-sponsors supported L.T. to pursue his entrepreneurial vision, beginning with the management buyout of four divisions of his employer, Stock Building Supply.

Through an investment thesis focused on: (a) acquiring local market-leading independent pro dealers, and (b) utilizing a highly autonomous operating model that maintained operating subsidiaries’ local brands, leadership, and relationships, US LBM grew sales from $150 million to over $3.0 billion by 2018, becoming one of the fastest-growing national pro dealer organizations in LBM history.

BIP principals formed the initial US LBM investment thesis and founding management team, sourced numerous early acquisitions, and provided strategic guidance to US LBM in a minority equity sponsor role, while reinvesting through several rounds including a recapitalization with Kelso & Company in 2015. In 2017, US LBM filed an S-1 registration statement for an initial public offering.