v3.26.1
Business Combinations
 6 Months Ended
Jun. 30, 2026
Business Combination [Abstract]  
Business Combinations

2. Business Combinations

During the first six months of 2026, we completed the acquisitions of Premium Building Components, Inc. (“PBC”) and Precision Design and Trim LLC (“Precision Design”) for a combined total of approximately $31.0 million. PBC is based in New York and supplies trusses and wall panels to customers from western New York to Maine and Delaware. Precision Design provides finish work installation services in the Boise, Idaho area.

During the first six months of 2025, we completed the acquisitions of Alpine Lumber Company (“Alpine Lumber”), O.C. Cluss Lumber Company (“Cluss Lumber”) and Truckee Tahoe Lumber (“Truckee Tahoe”) for a combined total of approximately $891.9 million, net of cash acquired. Alpine Lumber was the largest independently operated supplier of building materials in Colorado and northern New Mexico. Alpine Lumber serves the Colorado Front Range, western Colorado and northern New Mexico, providing a broad product range which includes prefabricated trusses and wall panels, and millwork. Cluss Lumber is a supplier of lumber and building materials to southwestern Pennsylvania, western Maryland and northern West Virginia. Truckee Tahoe is a supplier of lumber and building materials in the northern California and northwestern Nevada markets.

The acquisitions were funded with a combination of cash on hand and borrowings under our $2.2 billion revolving credit facility due May 20, 2030 (the “Revolving Facility”). The transactions were accounted for by the acquisition method, and accordingly, the results of operations have been included in the Company’s consolidated financial statements from the acquisition dates. The purchase price was allocated to the assets acquired and liabilities assumed based on estimated fair values at the acquisition dates, with the excess of purchase price over the estimated fair value of the net assets acquired recorded as goodwill.

Pro forma financial information for the acquisitions discussed above for 2026 and 2025 are not presented as these acquisitions did not have a material impact on our results of operations, individually or in the aggregate for each respective period.

The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed for acquisitions during the periods ended June 30, 2026, and June 30, 2025:

 

 

 

Total Acquisitions

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Cash and cash equivalents

 

$

—

 

 

$

2,785

 

Accounts receivable

 

 

—

 

 

 

48,378

 

Other receivables

 

 

—

 

 

 

6,842

 

Inventories

 

 

6,336

 

 

 

66,244

 

Other current assets

 

 

6

 

 

 

766

 

Property, plant and equipment

 

 

2,817

 

 

 

192,131

 

Operating lease right-of-use assets

 

 

1,254

 

 

 

11,646

 

Finance lease right-of-use assets

 

 

—

 

 

 

286

 

Intangible assets

 

 

9,631

 

 

 

305,986

 

Other assets

 

 

—

 

 

 

262

 

Total assets

 

 

20,044

 

 

 

635,326

 

 

 

 

 

 

 

 

Accounts payable

 

 

16

 

 

 

14,512

 

Accrued liabilities

 

 

—

 

 

 

18,196

 

Contract liabilities

 

 

380

 

 

 

6,380

 

Operating lease liabilities

 

 

1,254

 

 

 

11,646

 

Finance lease liabilities

 

 

—

 

 

 

286

 

Total liabilities

 

 

1,650

 

 

 

51,020

 

 

 

 

 

 

 

 

Goodwill

 

 

12,617

 

 

 

310,349

 

Total purchase consideration

 

 

31,011

 

 

 

894,655

 

Accrued contingent consideration and purchase price adjustments

 

 

(5,104

)

 

 

(6,344

)

Less: cash acquired

 

 

—

 

 

 

(2,785

)

Total cash consideration

 

$

25,907

 

 

$

885,526