Vandermeer Forest Products — Acquisition by BlueLinx Holdings
US wholesale distributor of specialty building products serving customers across the Pacific Northwest and other North American markets, acquired by BlueLinx Holdings, illustrating how established regional distribution networks, supplier relationships and complementary product categories can support strategic acquisitions in building-materials distribution.
This transaction involved a business above the $1m–$50m SME revenue benchmark. It is included for industry context and is not a direct SME comparison.
Acquirer
BlueLinx Holdings
Year
2022
Business Purchase Price
$63.4m (excl. real estate)
Revenue
~$150m+ (LTM)
Adjusted EBITDA
$19.3m (LTM Adjusted EBITDA)
Business Purchase Price / Adjusted EBITDA
3.3×
Industry
Building Materials Distribution
Transaction
On 3 October 2022, BlueLinx Holdings completed its acquisition of Vandermeer Forest Products, a US wholesale distributor of specialty building products. The total purchase price was $67.0 million, including approximately $3.6 million attributable to a distribution facility and real estate. Excluding the property component, BlueLinx reported a business purchase price of $63.4 million against $19.3 million in trailing adjusted EBITDA, representing 3.3× adjusted EBITDA. The acquisition expanded BlueLinx's specialty building-products distribution capabilities and geographic presence across the Pacific Northwest and other North American markets.
Why the Premium?
- Established regional wholesale distribution network
- More than 250 customers across the Pacific Northwest and other North American markets
- Specialist building-products portfolio
- Strong historical profitability
- Existing logistics and supplier relationships
- Opportunities for geographic expansion
SME Takeaway
The acquisition demonstrates how established building-materials distributors can attract strategic buyers through regional market presence, supplier relationships and distribution capabilities. The 3.3× trailing adjusted EBITDA multiple provides a useful completed-transaction reference. However, Vandermeer's revenue exceeded the $1m–$50m SME benchmark, and the transaction occurred during a period of unusually strong building-products profitability. The multiple also excludes separately acquired real estate and should be understood as the buyer's reported business purchase-price multiple rather than an independently calculated enterprise-value multiple.
Disclaimer: Case study figures are based on publicly available information and are provided for illustrative purposes only. Transaction values, EBITDA figures and implied multiples may reflect different reporting periods, definitions and deal structures, and some multiples are calculated from disclosed figures rather than reported by the parties. They are not formal valuations, investment advice or a substitute for independent professional advice.