BlueLinx Announces Closing of Sale-Leaseback Transaction
BlueLinx Holdings, Inc. (the “Company”), a leading distributor of building and industrial products in the United States, announced that it has completed a sale-leaseback transaction for its distribution facility in University Park, Illinois for a purchase price of $23 million.
Net proceeds from the transaction were used to repay indebtedness under the Company’s term loan. Upon completion of the transaction, the Company entered a long-term lease with multiple renewal options on the property.
Management Commentary
Mitch Lewis, President and Chief Executive Officer, stated, “This transaction represents another key step in our ongoing efforts to monetize our real estate assets and reduce our leverage, while remaining committed to our local market under a long-term lease arrangement. We anticipate pursuing additional sale leaseback and real estate sale opportunities in the coming months as we seek to unlock the value of our real estate assets.”
Additional information regarding this transaction will be included in a filing by the Company with the Securities and Exchange Commission on Form 8-K, which investors are encouraged to read in its entirety.
About BlueLinx Holdings Inc.
BlueLinx (NYSE: BXC) is a leading wholesale distributor of building and industrial products in the United States with over 50,000 branded and private-label SKUs, and a broad distribution footprint servicing 40 states. BlueLinx has a differentiated distribution platform, value-driven business model and extensive cache of products across the building products industry. Headquartered in Marietta, Georgia, BlueLinx has over 2,200 associates and distributes its comprehensive range of structural and specialty products to approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers.
Contact:
Mary Moll – Investor Relations – investor@bluelinxco.com – (866) 671-5138
Source: BlueLinx Holdings, Inc.
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