Deering Lumber acquired by Illinois building materials company
U.S. LBM Holdings LLC, an owner of regional lumber yards and a distributor of specialty building materials, has acquired Maine’s Deering Lumber.
Founded in 1866, Biddeford-based Deering Lumber operates three locations, all in York County, in Biddeford, Kennebunk and Springvale. It is a distributor of lumber and specialty building products, including windows, doors, decking, wallboard, roofing and siding.
Deering Lumber will continue to be led by President C.D. Armstrong.
“A strong customer base, diverse product offering and team focused on customer relationships make Deering Lumber an ideal addition to our family of companies,” said U.S. LBM President and CEO L.T. Gibson. “By adding a market leader in Deering Lumber, we’re expanding our reach and customer base in the coastal New England residential construction and renovation market.”
Terms of the deal were not disclosed. Deering Lumber was advised by Peloton Advisory LLC. U.S. LBM was advised by Honigman Miller Schwartz and Cohn LLP.
U.S. LBM, which is based in Buffalo Grove, Ill., has two other sites in Maine. Another of its companies, Londonderry, N.H.-based Wallboard Supply Co., has locations in Portland and Hermon.
Deering Lumber was founded in 1866 by Joseph G. Deering, according to the company’s website.
The company was unrelated to Rufus Deering Lumber, which was founded in 1854. In 2016, Rufus Deering Lumber sold its site on Commercial Street in Portland to developers and its business to Eldredge Lumber Co. of Portland.
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