{"id":75387,"date":"2018-03-20T13:35:18","date_gmt":"2018-03-20T13:35:18","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/bluelinx-invests-345-million-buying-cedar-creek\/"},"modified":"2025-09-19T08:47:45","modified_gmt":"2025-09-19T08:47:45","slug":"bluelinx-invests-345-million-buying-cedar-creek","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/bluelinx-invests-345-million-buying-cedar-creek\/","title":{"rendered":"BlueLinx invests $345 million in buying Cedar Creek"},"content":{"rendered":"

BlueLinx, a leading distributor of building and industrial products in the US, entered into a definitive agreement to acquire Cedar Creek, a leading building products wholesale distributor, a portfolio company of Charlesbank Capital Partners for a purchase price of USD 413 million on a debt-free, cash-free basis.<\/em><\/p>\n

According to the announcement, the purchase price will consist of approximately USD 345 million in cash and approximately USD 68 million as the agreed value of the capital leases.<\/p>\n

BlueLinx has commitments from Wells Fargo Bank, N.A. and Bank of America, N.A. to arrange a USD\u00a0 750 million revolving credit facility that includes a USD\u00a0 150 million accordion feature, subject to certain\u00a0conditions, including the finalization of definitive loan agreements.<\/p>\n

Additionally, BlueLinx has a commitment from HPS Partners for a USD\u00a0 180 million term loan, subject to certain conditions, including the finalization of definitive loan agreements. Proceeds from the ABL Revolver and Term Loan will be used, among other things, to fund the purchase price and repay debt.<\/p>\n

The company anticipates having excess availability under the ABL Revolver after the acquisition closes and at the end of the second fiscal quarter of approximately USD\u00a0 \u00a0110 million.<\/p>\n

The combination of BlueLinx and Cedar Creek is expected to create a leading building products wholesale distributor with one of the largest product offerings in the building products industry, including over 50,000 branded and private-label SKUs, and a distribution footprint of 70 national locations servicing 40 states.<\/p>\n

Together with Cedar Creek, BlueLinx will be able to distribute its comprehensive range of structural and specialty products to approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers.<\/p>\n

The transaction is also expected to enable the combined entity to serve diverse end markets from new residential and light commercial construction to industrial, as well as residential repair and remodel. BlueLinx and Cedar Creek\u2019s combined revenue was USD 3.2 billion in 2017 and its pro forma LTM Adjusted EBITDA for 2017 would have been approximately USD 154 million including at least USD 50 million of annual cost savings.<\/p>\n

Both companies have highly experienced executive teams with proven leaders in the building products industry.\u00a0Mitch Lewis, President and Chief Executive Officer of BlueLinx, will continue as CEO of the combined company, which will remain headquartered in Atlanta, Georgia. Alex Averitt, CEO of Cedar Creek, will become COO of BlueLinx and D. Wayne Trousdale, Chairman of Cedar Creek, will become Vice Chairman of the operating companies. Initially, the Parent Company will remain named BlueLinx and Cedar Creek will retain its name in its locations.<\/p>\n

Mitch Lewis, President and Chief Executive Officer of BlueLinx, commented:\u00a0\u201cThis transaction will create a leading US wholesale distributor of building and industrial products, and significantly enhance the value. With an extensive cache of products, the benefits of our combined technology and a strong footprint East of the Rockies, we will be well-positioned to drive profitable growth for our stakeholders, as we realize the significant strategic and financial benefits of this transaction and expand to additional geographic territories.<\/em>\u201d<\/p>\n

The transaction has been unanimously approved by BlueLinx\u2019s Board of Directors and is expected to be completed within 45 days, subject to customary closing conditions and regulatory approvals.<\/p>","protected":false},"excerpt":{"rendered":"

BlueLinx, a leading distributor of building and industrial products in the US, entered into a definitive agreement to acquire Cedar Creek, a leading building products wholesale distributor, a portfolio company of Charlesbank Capital Partners for a purchase price of USD … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":59428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713],"tags":[3732,3733,3734,3266],"class_list":["post-75387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","tag-bluelinx","tag-building-materials","tag-cedar-creek","tag-wood-construction","topic-sawmilling","topic-wood-construction","area-north-america"],"acf":[],"yoast_head":"\nBlueLinx invests $345 million in buying Cedar Creek<\/title>\n<meta name=\"description\" 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