Bain Capital, an American private investment firm, agreed to acquire a majority stake in US LBM, a distributor of specialty building materials, from Kelso & Co, a private equity investment firm focusing on leveraged buyouts, recapitalizations and growth capital transactions. Financial terms were not disclosed. The transaction is expected to close in December 2020 and is subject to customary closing conditions, including requisite regulatory approvals. "We have grown tremendously over the past 11 years, and with Kelso's support we were able to accelerate our acquisition strategy that has positioned us for continued growth. US LBM's national platform, local go-to-market strategy, relationships with top suppliers, and record of successful integrations continues to make us an acquirer of choice in the building materials industry. We look forward to working with Bain Capital Private Equity and leveraging their experience of helping industrial companies scale and attract additional partners," L.T. Gibson, US LBM President and CEO.