M&A Deal Summary

Foundation Building Materials Acquires Specialty Products & Insulation

On August 9, 2016, Foundation Building Materials acquired distribution company Specialty Products & Insulation from Superior Plus for 325M USD

Acquisition Highlights
  • This is Foundation Building Materials’ 2nd transaction in the Distribution sector.
  • This is Foundation Building Materials’ 2nd largest (disclosed) transaction.
  • This is Foundation Building Materials’ 3rd transaction in the United States.
  • This is Foundation Building Materials’ 1st transaction in North Carolina.
Investment Fate
  • Specialty Products & Insulation was divested to a consortium of buyers in 2018.
  • Specialty Products & Insulation was sold to a consortium of financial buyers in 2021.
  • Specialty Products & Insulation was sold to a publicly-traded strategic buyer in 2025 for 1.0B USD.

M&A Deal Summary

Date 2016-08-09
Target Specialty Products & Insulation
Sector Distribution
Buyer(s) Foundation Building Materials
Sellers(s) Superior Plus
Deal Type Divestiture
Deal Value 325M USD

Target

Specialty Products & Insulation

Charlotte, North Carolina, United States
Specialty Products & Insulation is a value-added distributor and fabricator of insulation and complementary products for the commercial, industrial and residential markets. SPI's products help conserve energy, preserve worker safety, and provide noise abatement. Specialty Products & Insulation was founded in 1982 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Foundation Building Materials

Santa Ana, California, United States

Category Company
Founded 2011
Sector Distribution
Revenue 6.5B USD (2024)
DESCRIPTION

Foundation Building Materials is a specialty building products distributor of gypsum wallboard, suspended ceiling systems, metal framing, insulation, and complementary products throughout North America. Foundation Building Materials was founded in 2011 and is based in Santa Ana, California.


DEAL STATS #
Overall 4 of 25
Sector: Distribution M&A 2 of 17
Type: Divestiture M&A Deals 2 of 4
State: North Carolina M&A 1 of 1
Country: United States M&A 3 of 21
Year: 2016 M&A 2 of 3
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-09 Superior Plus - Construction Products Distribution Business

Toronto, Ontario, Canada

Superior Plus - Construction Products Distribution Business comprises construction products distribution business that distributes commercial and industrial insulation; specialty walls and ceiling products; and specialty construction products to the walls and ceilings industry. The business is located in Canada.

Buy CA$428M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 United Drywall

Calgary, Alberta, Canada

United Drywall Ltd. is a provider of quality building materials and a high-level of service to residential contractors in the Greater Atlanta Area. United Drywall iPad scheduling app, can look ahead, react and keep constantly informed on progress.

Buy -

Seller(S) 1

SELLER

Superior Plus

Toronto, Ontario, Canada

Category Company
Founded 1989
Sector Diversified
Employees4,261
Revenue 2.4B CAD (2024)
DESCRIPTION

Superior Plus is a diversified company that engages in energy distribution and specialty chemicals business. The company operates two separate businesses: energy distribution and specialty chemicals. All of the businesses are operated on the principles of entrepreneurship, continuous improvement, executing on objectives, safety, and teamwork. Superior Plus was founded in 1989 and is headquartered in Toronto, Ontario.


DEAL STATS #
Overall 3 of 4
Sector: Distribution M&A 1 of 1
Type: Divestiture M&A Deals 3 of 4
State: North Carolina M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2016 M&A 2 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-09 Superior Plus - Construction Products Distribution Business

Toronto, Ontario, Canada

Superior Plus - Construction Products Distribution Business comprises construction products distribution business that distributes commercial and industrial insulation; specialty walls and ceiling products; and specialty construction products to the walls and ceilings industry. The business is located in Canada.

Sell CA$428M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-01 Canwest Propane

Calgary, Alberta, Canada

Canwest Propane is a propane supply and distribution franchise in Western Canada, serving a diverse customer base of oil and gas, commercial and industrial, residential and construction under the brands of Canwest and Stittco. Canwest has over 50,000 customers and has established long-term relationships with a customer base that includes international, national and large regional companies.

Buy $412M