Cemex USA announced that it has signed an agreement for the sale of its gypsum wallboard business based in Florida to US LBM Holdings, LLC. The proceeds obtained from this transaction, which will not be for a material amount, will be used mainly by Cemex USA’s affiliates for debt reduction and for general corporate purposes. The transaction is expected to close within the next few weeks.
The Gypsum Supply Division operates 16 locations throughout Florida and an additional unit in Alabama. Specializing in the distribution of drywall, metal framing and acoustical ceiling products, the business carries a full line of wall- and ceiling-related building materials including lath and trims, joint finishing compounds, finish sprays, fasteners, metal and plastic beads, stucco sand and cement, insulation, tools and other related products.
“We’re excited to join Rosen Materials and further expand our gypsum distribution capabilities in the Florida markets,” said Bobby White, general manager of Cemex USA’s Gypsum Division, who will remain along with his management team as their division joins Rosen Materials. “This transaction will ensure the Gypsum Division team's continued success with our customers, employees and vendors for years to come.”
“As the housing market continues to expand, Rosen Materials is committed to provide the best quality and most innovative building materials available,” said Drew Rosen, president of Rosen Materials. "We are excited to add one of the industry’s best teams from Cemex, which will enable Rosen to broaden its capacity to serve the professional contractor and homebuilder in our region."