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

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") $(LOW)$, 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

(END) Dow Jones Newswires

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.