American Securities completed the acquisition of Foundation Building Materials for c. $1.37bn, including debt.

American Securities, a US private equity firm, completed the acquisition of Foundation Building Materials, a building products distributor of wallboard, suspended ceiling systems, metal framing and complementary and other products in North America, for c. $1.37bn, including debt. “The FBM Board, led by the Special Committee and with the assistance of independent financial and legal advisors, conducted a thorough review of opportunities to enhance shareholder value, and unanimously concluded that entering into this agreement with American Securities represents the best way to maximize value. This transaction with American Securities is a great outcome for FBM, and I thank Ruben and the rest of the management team for leading FBM to this critical point in the Company’s history,” Chris Meyer, Foundation Building Materials Chairman.