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[Zephyr]

WEEEEEEEEEEEEEE!!!!! DJ Builders FirstSource to Buy ProBuild Holdings for $1.63 Billion -- Update $BLDR  


By Chelsey Dulaney Builders FirstSource Inc. has agreed to buy fellow building material-supplier ProBuild Holdings LLC for $1.63 billion in cash, a deal that will position the company to capitalize on recovery in the housing market. Denver-based ProBuild is owned by Devonshire Investors, a private-equity firm associated with Fidelity Investments' parent FMR LLC. The company operates lumberyards, millwork shops and retail stores and is one of the largest building material distributors in the U.S. It brought in $4.5 billion in revenue last year, while Dallas-based Builders FirstSource brought in $1.6 billion in revenue. Builders FirstSource makes structural building products, including roof trusses, wall panels, and stairs, for residential new construction in the U.S. The deal comes as the housing market begins to show signs of improvement amid job gains, lower gas prices and easing borrowing requirements. The combined company's will have greater geographic reach and a broader portfolio of products that include lumber, windows, doors, and hardware. The combination could result in between $100 million to $120 million in annual cost savings in the first two years after closing. The deal is expected to close in the second half of the year. Shares of Builders 57% in premarket trading to $10.83 after an earlier halt. Write to Chelsey Dulaney at [e-mail] Access Investor Kit for Builders FirstSource, Inc. Visit http://www.companyspotlight.com/partner?cp_code=P479?=US12008R1077 Subscribe to WSJ: http://online.wsj.com?mod=djnwires (END) Dow Jones Newswires April 13, 2015 08:40 ET (12:40 GMT) Copyright (c) 2015 Dow Jones & Company, Inc. Story ID: 20150413DN004679 Keywords: DOW JONES PERSONAL FINANCE PRODUCT, FINANCIAL, COMPANY NEWS, NEWSWIRES CONTENT FILTERED FOR FACTIVA, ACQUISITIONS, MERGERS, TAKEOVERS, ASSET MANAGERS, DOW JONES CONTENT SET DN, DOW JONES PORTFOLIO NEWS, PRIVATE COMPANIES, DOW JONES INVESTMENT BANKER, HIGH-YIELD ISSUERS, DOW JONES NORTH AMERICA EQUITIES NEWS, DOW JONES GLOBAL FX & FIXED INCOME NEWS, INVESTMENT SERVICES, DOW JONES GLOBAL MARKETS NEWS, DOW JONES EQUITY INVESTOR NORTH AMERICA, G7 FOREX WIRE, DOW JONES GLOBAL PREMIUM INVESTMENT NEWS, DOW JONES ADVISOR MARKETS, INDUSTRIALS, CAPITAL MARKETS REPORT IN DI, DOW JONES EQUITY TRADING NORTH AMERICA, GRAND CENTRAL ASSET CLASS FIXED INCOME, NEWSWIRES CONTENT FILTERED FOR WSJ.COM, GRAND CENTRAL ASSET CLASS EQUITIES, RETAILERS-SPECIALTY, GLOBAL EQUITIES SPOTLIGHT, STORIES FROM THE REWRITE DESK, SIGNIFICANT STORY, TREASURY NEWS SERVICE, CORPORATE ACTIONS, DOW JONES GLOBAL INDEX COMPONENTS, DOW JONES INTERNATIONAL NEWS SERVICE, RUSSELL 3000 COMPONENT, OFF-TRADING FLOOR INVESTMENT NEWS, DOW JONES GLOBAL EQUITIES NEWS, DOW JONES ADVISOR PRACTICE, HOME IMPROVEMENT RETAILERS, OFF-TRADING FLOOR PORTFOLIO NEWS, BUILDING MATERIALS & FIXTURES, CONSUMER SERVICES, DOW JONES NEWS SERVICE, DOW JONES GLOBAL INVESTMENT NEWS, FINANCIAL NEWS VENDOR WIRE, DOW JONES NEWS WIRES Symbols: BLDR, FIN.XX