Atlas
Back to Building Products
Founder / Operator·Building Products

L.T. Gibson

President and Chief Executive Officer at US LBM

Buffalo Grove, Illinois, USA

LG
LinkedIn
Why they matter

Founder-CEO who built US LBM from a 16-location buyout into a $3B+ national platform through three successive PE ownership cycles.

Background

L.T. Gibson is the founder, President and CEO of US LBM, a specialty building materials distributor he launched in 2009 via a management buyout of four divisions of his former employer, Stock Building Supply. With more than 35 years in the pro-dealer industry, he built US LBM from 16 locations and $150 million in sales to over 460 locations and $3+ billion in revenue, backed successively by Building Industry Partners/Black Eagle Partners, Kelso & Company (2015), and Bain Capital Private Equity (2020).

Notable deals

  • 2009
    Founded US LBM via management buyout of three Stock Building Supply divisions (Wisconsin, Connecticut, New York) with Building Industry Partners and Black Eagle Partners
  • 2015
    Led US LBM through recapitalization as Kelso & Company acquired a majority equity stake, closing via Kelso Fund IX
  • 2020
    Retained as President and CEO as Bain Capital Private Equity acquired a majority stake in US LBM from Kelso & Co.
  • 2023
    Named EY Entrepreneur Of The Year 2023 Southeast Award winner for building US LBM into a top-tier national distributor

Call-prep brief

Background

  • Founded US LBM in 2009 via a management buyout of four Stock Building Supply divisions, backed by Building Industry Partners and Black Eagle Partners.
  • 35+ years in the pro-dealer/building materials industry; B.A. in Business Administration, Morehead State University, plus executive programs at Duke Fuqua, UVA Darden, and IMD.

Current focus

  • Still President & CEO after three ownership transitions (BIP → Kelso 2015 → Bain Capital 2020), having grown the company to 460+ locations and $3B+ revenue.
  • Continues an active acquire-and-integrate strategy (100th acquisition closed October 2024) while preserving local brands/leadership at acquired dealers.

What he cares about

  • A culture-first, employee-first operating philosophy — company values are people, partnership, operational excellence, continuous improvement, empowerment.
  • Preserving local operating autonomy for acquired pro dealers rather than forcing centralized integration.

Recent moves

  • Opened greenfield structural component manufacturing facilities near Atlanta and Orlando (2022-2023).
  • Named EY Entrepreneur Of The Year 2023 (Southeast); US LBM marked its 15th anniversary in 2024 with continued acquisition pace.

Potential sensitivities

  • Has been through two prior sponsor transitions (Kelso, then Bain Capital) — likely guarded discussing Bain's investment timeline, hold period, or exit intentions.
  • 2017-2019 S-1 IPO filings were withdrawn in favor of the Bain deal; sensitive topic re: public-market appetite.

Questions to ask

  1. How is the acquisition pipeline holding up given housing-market/rate volatility, and what's the current M&A multiple environment for pro dealers?
  2. With Bain Capital now five-plus years into ownership, how is Gibson thinking about the next capital event (sale, recap, or renewed IPO)?
  3. How does US LBM's autonomous, locally-branded operating model hold up against roll-up competitors like Builders FirstSource pursuing tighter integration?

Outreach draft

Subject
Building products roll-up strategy — quick call?
Hi L.T., I've been following US LBM's growth since the 2009 founding — going from 16 locations to a $3B+, 460-location platform through three ownership cycles is a remarkable build. We're doing work in the building products distribution space and would value your perspective on where consolidation, pricing, and housing demand are headed over the next 12-24 months. Would you have 20-30 minutes for a call in the next couple of weeks? Happy to work around your schedule, and glad to share what we're seeing across the sector in return. Best, [Placeholder Name]

Linked companies

Sources