RBC Capital Markets acted as administrative agent and left lead arranger on a $175 million asset-based lending revolving financing to support Kelso & Company’s August 20th Acquisition of US LBM Holdings, LLC.
The ~$1 billion financing package consists of a $175 million ABL, a $656.5 million 1st Lien Term Loan and a $154.5 million 2nd Lien Term Loan. Credit Suisse acted as Left Lead Arranger on the 1st and 2nd lien term loans. RBC and Credit Suisse acted as lead arangers on the ABL and term loans. RBC, Credit Suisse, Barclays, and Suntrust acted as Joint Bookrunners on the transaction. Wells Fargo was also a lender in the ABL facility.
US LBM is a national building product material distribution business operating 163 locations in 22 states. Originally founded in October 2009 from three regional businesses purchased from Stock Building Supply Holdings, Inc., the Company is now the 3rd largest building products distributor in the US. The company serves builders, remodelers and specialty contractors primarily in the Midwest, Northeast, and Mid-Atlantic, as well as in Nevada and Florida.