M&A Deal Summary

Lowe s Acquires Foundation Building Materials

On August 20, 2025, Lowe s acquired distribution company Foundation Building Materials from CD&R and American Securities for 8.8B USD

Acquisition Highlights
  • This is Lowe s’ 2nd transaction in the Distribution sector.
  • This is Lowe s’ largest (disclosed) transaction.
  • This is Lowe s’ 8th transaction in the United States.
  • This is Lowe s’ 3rd transaction in California.

M&A Deal Summary

Date 2025-08-20
Target Foundation Building Materials
Sector Distribution
Buyer(s) Lowe s
Sellers(s) CD&R
American Securities
Deal Type Add-on Acquisition
Deal Value 8.8B USD
Advisor(s) RBC Capital Markets (Financial)
Weil Gotshal & Manges (Legal)

Target

Foundation Building Materials

Santa Ana, California, United States
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.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Lowe s

Mooresville, North Carolina, United States

Category Company
Founded 1921
Sector Retail
Employees161,000
Revenue 83.7B USD (2025)
DESCRIPTION
Lowe's Companies' corporate headquarters in Mooresville, North Carolina.
Lowe's Companies' corporate headquarters in Mooresville, North Carolina.

Lowe's is a home improvement retailer with more than 1,800 locations across the US and Mexico. Lowe's was formed in 1921 and is based in Mooresville, North Carolina.


DEAL STATS #
Overall 10 of 10
Sector: Distribution M&A 2 of 2
Type: Add-on Acquisition M&A Deals 7 of 7
State: California M&A 3 of 3
Country: United States M&A 8 of 8
Year: 2025 M&A 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 Artisan Design Group

Dallas, Texas, United States

Artisan Design Group is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders. Artisan Design Group was founded in 2016 and is based in Dallas, Texas.

Buy $1.3B

Seller(S) 2

SELLER

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


DEAL STATS #
Overall 47 of 48
Sector: Distribution M&A 11 of 11
Type: Add-on Acquisition M&A Deals 16 of 16
State: California M&A 1 of 1
Country: United States M&A 37 of 38
Year: 2025 M&A 1 of 2
Size (of disclosed) 1 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-20 American Greetings

Cleveland, Ohio, United States

American Greetings is a creator and manufacturer of innovative social expression products that assist consumers in making the world a more thoughtful and caring place. American Greetings was founded in 1906 and is based in Cleveland, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-16 Drive DeVilbiss Healthcare

Port Washington, New York, United States

Drive DeVilbiss Healthcare manufactures a complete line of medical products, including mobility products, sleep and respiratory products, beds, bariatric products, wheelchairs, sleep surfaces and pressure prevention products, self-assist products, power operated wheelchairs, rehabilitation products, patient room equipment, personal care products and electrotherapy devices. Drive DeVilbiss Healthcare was founded in 2000 and is based in Port Washington, New York.

Sell -
SELLER

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based with $50 to $200 million of EBITDA and valued up to $2 billion. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York, New York.


DEAL STATS #
Overall 53 of 53
Sector: Distribution M&A 3 of 3
Type: Add-on Acquisition M&A Deals 22 of 22
State: California M&A 6 of 6
Country: United States M&A 52 of 52
Year: 2025 M&A 2 of 2
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-11 Trace3

Irvine, California, United States

Trace3 is a digital transformation and IT solutions to provider for medium and large sized enterprise clients. The Company has established a regional market-leading position in the technology solutions provider space with significant expertise in areas such as Cloud, Security, Data Intelligence, DevOps, and Data Center solutions. Trace3 was founded in 2002 and is based in Irvine, California.

Sell -