Press Release

EIGHTY FOUR, Pennsylvania - October 28, 2016 - 84 Lumber Company announced today that it has closed on a new $350 million Senior Secured Term Loan B (“TLB”) and refinanced its existing credit facility with a new $350 million Asset Based Revolving Credit Facility (“ABL Revolver”). The TLB and ABL Revolver mature on October 25, 2023 and October 25, 2021, respectively.

84 Lumber intends to use the proceeds to refinance a sale leaseback agreement consisting of a portfolio of 109 properties, repay the existing ABL facility and pay fees and expenses related to the transaction. The transaction provides the Company with operational and financial flexibility to reinvest in the business and pursue targeted, organic growth.

“Through this refinancing, we are able to capitalize on growing customer demand by deliberately investing in and enhancing our product and service capabilities,” said Maggie Hardy Magerko, 84 Lumber’s President and Owner. 

Wells Fargo Securities, LLC was the left lead arranger and bookrunner.  PNC Capital Markets, LLC served as a joint lead arranger and joint bookrunner.

About 84 Lumber

Founded in 1956, 84 Lumber Company is the nation’s leading privately held supplier of building materials, manufactured components, and industry-leading services for single- and multi-family residences and commercial buildings. 84 Lumber operates more than 250 stores, component manufacturing plants, custom door shops, custom millwork shops, and engineered wood product (EWP) centers in 30 states, representing the top 130 markets in the country. 84 Lumber also offers professional residential and commercial contractors turn-key installed services for a variety of products including framing, insulation, siding, windows, roofing, decking, and drywall. A certified women’s business enterprise owned by Maggie Hardy Magerko, 84 Lumber was named as one of Forbes’ Best Midsize Employers in America 2016 and Forbes’ Largest Private Companies in America 2016. For more information, please visit www.84lumber.com.