Foundation Building Materials (FBM) 10-Q 7 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Foundation Building Materials, Inc.
Entity Central Index Key	1,688,941
Trading Symbol	FBM
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock Shares Outstanding (in shares)		42,865,407
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 6,312	$ 28,552
Accounts receivable—net of allowance for doubtful accounts of $5,723 and $5,685, respectively	308,955	261,686
Other receivables	48,609	52,845
Inventories	167,601	157,991
Prepaid expenses and other current assets	13,847	12,516
Total current assets	545,324	513,590
Property and equipment, net	157,536	144,387
Intangible assets, net	198,998	215,381
Goodwill	458,472	437,935
Other assets	5,952	9,692
Total assets	1,366,282	1,320,985
Current liabilities:
Accounts payable	147,407	119,788
Accrued payroll and employee benefits	22,381	26,956
Accrued taxes	8,660	9,151
Other current liabilities	28,553	49,613
Total current liabilities	207,001	205,508
Asset-based revolving credit facility	79,500	208,469
Long-term portion of notes payable, net	532,076	525,487
Tax receivable agreement	203,837	0
Deferred income taxes, net	26,441	26,867
Other liabilities	14,585	26,138
Total liabilities	1,063,440	992,469
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, authorized 10,000,000 shares; 0 shares issued	0	0
Common stock, $0.001 par value, authorized 190,000,000 shares; 42,865,407 and 29,974,239 shares issued, respectively	13	0
Additional paid-in capital	329,892	364,815
Accumulated deficit	(29,708)	(36,296)
Accumulated other comprehensive income (loss)	2,645	(3)
Total stockholders' equity	302,842	328,516
Total liabilities and stockholders' equity	$ 1,366,282	$ 1,320,985

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable net of allowance for doubtful accounts	$ 5,723	$ 5,685
Preferred stock par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock shares authorized (in shares)	10,000,000	10,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	190,000,000	190,000,000
Common stock shares issued (in shares)	42,865,407	29,974,239
Common stock shares outstanding (in shares)	42,865,407	29,974,239

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 535,446	$ 415,563	$ 1,544,133	$ 930,315
Cost of goods sold (exclusive of amortization and depreciation)	380,663	302,595	1,099,907	665,767
Gross profit	154,783	112,968	444,226	264,548
Operating expenses:
Selling, general and administrative	117,410	95,962	344,074	218,758
Depreciation and amortization	19,729	13,711	57,152	33,605
Total operating expenses	137,139	109,673	401,226	252,363
Income from operations	17,644	3,295	43,000	12,185
Interest expense	(15,069)	(20,688)	(45,194)	(37,202)
Other income, net	35	79	13,419	93
Income (loss) before income taxes	2,610	(17,314)	11,225	(24,924)
Income tax expense (benefit)	1,211	(1,969)	4,637	(5,358)
Net income (loss)	$ 1,399	$ (15,345)	$ 6,588	$ (19,566)
Earnings (loss) per share data:
Basic (in dollars per share)	$ 0.03	$ (0.51)	$ 0.16	$ (0.65)
Diluted (in dollars per share)	$ 0.03	$ (0.51)	$ 0.16	$ (0.65)
Weighted average shares outstanding:
Basic (in shares)	42,865,407	29,974,239	41,021,808	29,974,239
Diluted (in shares)	42,870,391	29,974,239	41,023,935	29,974,239
Comprehensive income (loss):
Foreign currency translation adjustment	$ 3,037	$ 153	$ 5,695	$ 153
Unrealized (loss) gain on derivative, net of taxes of $1.0 million and $0.3 million, respectively and $1.9 million and $0.3 million, respectively	(1,647)	722	(3,047)	722
Total other comprehensive income	1,390	875	2,648	875
Total comprehensive income (loss)	$ 2,789	$ (14,470)	$ 9,236	$ (18,691)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net of tax effect on unrealized (loss) gain on derivatives	$ 1,000	$ 300	$ 1,900	$ 300

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ 6,588	$ (19,566)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	22,675	9,620
Amortization of intangible assets	34,477	23,985
Amortization of debt issuance costs and debt discount	7,352	3,599
Inventory fair value purchase accounting adjustment	942	6,372
Unrealized gain on foreign currency, net	(169)	(17)
Loss on extinguishment of debt	0	5,355
Provision for doubtful accounts	2,182	1,923
Stock-based compensation	1,978	0
Unrealized gain on derivative instruments, net	(13,045)	(148)
Loss on disposal of property and equipment	202	243
Deferred income taxes	2,710	(5,160)
Change in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(29,837)	(21,179)
Other receivables	6,429	2,177
Inventories	20	(6,782)
Prepaid expenses and other current assets	(945)	(696)
Other assets	(2,180)	(110)
Accounts payable	18,414	(2,949)
Accrued payroll and employee benefits	(4,797)	2,647
Accrued taxes	(521)	1,187
Other liabilities	(19,920)	7,421
Net cash provided by operating activities	32,555	7,922
Cash flows from investing activities:
Purchases of property and equipment	(26,268)	(22,780)
Payment of net working capital adjustments	(405)	0
Proceeds from net working capital adjustments	8,590	0
Proceeds from the disposal of fixed assets	528	0
Acquisitions, net of cash acquired	(73,348)	(372,116)
Net cash used in investing activities	(90,903)	(394,896)
Cash flows from financing activities:
Proceeds from asset-based revolving credit facility	395,688	215,000
Repayments of asset-based revolving credit facility	(524,782)	(95,000)
Principal borrowings on long-term debt	0	713,600
Principal payments on long-term debt	0	(463,606)
Debt issuance costs	0	(34,359)
Principal repayment of capital lease obligations	(2,110)	(2,000)
Issuance of common stock	163,952	0
Capital contributions	2,997	66,205
Capital distributions	0	(67)
Net cash provided by financing activities	35,745	399,773
Effect of exchange rate changes on cash	363	(68)
Net (decrease) increase in cash	(22,240)	12,731
Cash and cash equivalents at beginning of period	28,552	10,662
Cash and cash equivalents at end of period	6,312	23,393
Supplemental disclosures of cash flow information:
Cash paid for income taxes	3,236	2,228
Cash paid for interest	49,937	18,717
Cash paid during the period for early debt repayment penalty	0	1,600
Supplemental disclosures of non-cash investing and financing activities:
Change in fair value of derivatives, net of tax	3,047	722
Assets acquired under capital lease	667	804
Goodwill adjustment for purchase price allocation	518	0
Tax receivable agreement	203,837	0
Property and equipment included in accounts payable	0	133
Embedded derivative in issued notes	$ 0	$ 6,200

Business and Basis of Presentat

Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Business Foundation Building Materials (the "Company") is a specialty distributor of wallboard, suspended ceiling systems, and mechanical insulation throughout the U.S. and Canada. Based in Tustin, California, the Company employs more than 3,500 people and operates more than 220 branches across the U.S. and Canada. Organization The Company was formed on October 27, 2016 (inception). The initial stockholder of the Company was LSF9 Cypress Parent 2 LLC ("Parent 2") which held all of the Company's authorized, issued and outstanding shares of common stock. Reorganization On February 8, 2017, FBM Alpha LLC, (formerly known as LSF9 Cypress Parent, LLC) ("Alpha"), transferred its wholly owned direct subsidiary, FBM Beta LLC, (formerly known as LSF9 Cypress Holdings, LLC), and indirectly FBM Finance, Inc. to the Company, thereby transferring the business for which historical financial information is included in these results of operations, to be indirectly held by the Company (the "Reorganization"). Initial Public Offering Following the Reorganization, on February 15, 2017 , the Company completed an initial public offering ("IPO") in which it issued 12,800,000 shares of common stock at a public offering price of $14.00 per share. The common stock began trading on the New York Stock Exchange on February 10, 2017 under the ticker symbol "FBM." After underwriting discounts and commissions and expenses, the net proceeds to the Company from the IPO were approximately $164.0 million . The Company used these net proceeds to repay borrowings outstanding under its asset-based revolving credit facility (the "ABL Credit Facility"). The proceeds of $164.0 million were recorded in equity, with approximately $13,000 recorded for the par value of the common stock and the remaining amount recorded in additional paid-in capital. The underwriters exercised their option to purchase an additional 1,920,000 shares of common stock from Parent 2 and those shares were purchased on February 24, 2017 . The Company did not receive any proceeds from the sale of shares by Parent 2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for a fair presentation with respect to the interim financial statements, have been included. The results of operations for interim periods are not necessarily indicative of the results for full fiscal years. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2016, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 28, 2017 (the "2016 10-K"). Principles of Consolidation The consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The Company has two reportable segments, Specialty Building Products ("SBP") and Mechanical Insulation ("MI"). Resources are allocated and performance is assessed by the Company's CEO, who is the Chief Operating Decision Maker ("CODM") .

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Recently Adopted Accounting Standards In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2015-11, Simplifying the Measurement of Inventory , which applies to inventory valued at first-in, first-out or average cost. ASU 2015-11 requires inventory to be measured at the lower of cost and net realizable value (i.e., selling price less reasonable completion and disposal costs), rather than at the lower of cost or market. ASU 2015-11 is effective on a prospective basis for annual periods beginning after December 15, 2016 , and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2017 and the adoption thereof did not have a material impact on the Company’s consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting . This ASU is intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements, including the income tax effects of share-based payments and accounting for forfeitures. This guidance will require recognizing the Company’s excess tax benefits on share-based compensation arrangements in the tax provision, instead of in equity as under the current guidance. In addition, these amounts will be classified as an operating activity rather than a financing activity in the statement of cash flows. The amendments in this update are effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The Company adopted this guidance on January 1, 2017 and the adoption thereof did not have a material impact on the Company's consolidated financial statements. However, the adoption of this guidance will result in excess tax benefits or deficiencies related to the exercise of share-based compensation awards to employees being included in the determination of the Company’s income tax provision, which could significantly impact the Company’s consolidated net income in future periods. Recently Issued Accounting Standards In May 2014 , the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU No. 2014-09 amends the guidance for revenue recognition to replace numerous, industry-specific requirements. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The ASU also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows arising from contracts with customers. Additional ASUs have been issued to amend or clarify the guidance in this ASU as follows: • ASU No. 2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients was issued in May 2016. ASU No. 2016-12 amends the new revenue recognition standard to clarify the guidance on assessing collectability, presenting sales taxes, measuring noncash consideration, and certain transition matters. • ASU No. 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing was issued in April 2016. ASU No. 2016-10 addresses implementation issues identified by the FASB-International Accounting Standards Board Joint Transition Resource Group for Revenue Recognition. • ASU No. 2016-08 Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) was issued in March 2016. ASU No. 2016-08 requires an entity to determine whether the nature of its promise to provide goods or services to a customer is performed in a principal or agent capacity and to recognize revenue in a gross or net manner based on its principal/agent designation. The guidance in these ASUs is effective for annual reporting periods beginning after December 15, 2017 , including interim periods within that reporting period, and early adoption is permitted for interim and annual periods beginning after December 15, 2016 . The Company is continuing its evaluation of the impact of this standard and does not expect the adoption of this guidance to have a material impact on its consolidated financial statements; however, this expectation is subject to change. The adoption of this guidance will likely result in additional disclosures regarding the Company's revenue recognition polices. The Company currently plans to adopt this new guidance using the modified retrospective method. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The updated guidance enhances the reporting model for financial instruments by modifying how entities measure and recognize equity investments and present changes in the fair value of financial liabilities, and by simplifying the disclosure guidance for financial instruments. The amendments in this update are effective for fiscal years beginning after December 15, 2017. The amendments in this update should be applied prospectively. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In February 2016 , the FASB issued ASU No. 2016-02, Leases (Topic 842). ASU No. 2016-02 establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either "finance" or "operating," with classification affecting the pattern of expense recognition in the income statement. This update requires a modified retrospective transition as of the beginning of the earliest comparative period presented in the financial statements. This update is effective for fiscal years beginning after December 15, 2018 , and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In August 2016 , the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 amended the existing accounting standards for the statement of cash flows. The amendments provide guidance on eight classification issues related to the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2017 , and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business , which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This amendment is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the requirement to calculate the implied fair value of goodwill but rather requires an entity to record an impairment charge based on the excess of a reporting unit’s carrying value over its fair value. This amendment is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company uses derivatives to manage selected foreign exchange exposures for its investments in foreign subsidiaries. In general, the types of risks hedged are those relating to the variability of future earnings and cash flows caused by movements in foreign currency exchange rates and interest rates. The Company documents its risk management strategy and hedge effectiveness at the inception of and during the term of each hedge. Net Investment Hedge As of September 30, 2017 , and December 31, 2016, the amount of notional foreign exchange contracts outstanding was approximately $88.0 million. There is no significant credit risk associated with the potential failure of any counterparty to perform under the terms of any derivative financial instrument. The net investment hedge is measured at fair value within the consolidated balance sheet either as an asset or a liability. At September 30, 2017 , the fair value of the derivative instrument was $2.7 million and was recorded in other long-term liabilities. At December 31, 2016, the fair value of the derivative instrument was $2.4 million and was recorded in non-current other assets. The Company recognized a loss of $1.6 million and $3.0 million, net of taxes of $1.0 million and $1.9 million , respectively, for the three and nine months ended September 30, 2017, respectively, recorded in comprehensive income (loss) related to the net investment hedge. The Company recognized a gain of $0.7 million , net of taxes of $0.3 million , for the three and nine months ended September 30, 2016, recorded in comprehensive income (loss) related to the net investment hedge. The Company recorded a loss of $111,000 and $205,000 for the three and nine months ended September 30, 2017, respectively, in other income, net, related to the ineffective portion of the net investment hedge. The Company recorded a gain of $48,000 for the three and nine months ended September 30, 2016 in other income, net, related to the ineffective portion of the net investment hedge. Embedded Derivative The Company has the option to prepay its $575.0 million Senior Secured Notes due 2021 (the "Notes") at any time prior to August 15, 2018 at a price equal to 100% of the principal amount, plus the applicable premium and any accrued and unpaid interest. In addition, prior to August 15, 2018 and in the event of equity offerings, the Company has the option to prepay up to 40% of the Notes using the proceeds from such offering within 180 days from closing of the offering. However, 50% of the principal needs to remain outstanding. The redemption price is determined at 108.25% plus accrued and unpaid interest. On or after August 15, 2018, the Company may redeem the Notes subject to a redemption price equal to a percentage of the principal amount of the Notes, with such percentage set forth in the indenture governing the Notes, plus accrued and unpaid interest. The optional prepayment subsequent to an equity offering constitutes an embedded derivative and is bifurcated from the debt host and accounted for separately. The embedded derivative is recorded at fair value at inception and on an ongoing basis, with any changes in fair value from inception recorded in earnings. The fair value of the embedded derivative at September 30, 2017 and December 31, 2016 was $0 and $13.2 million , respectively. The fair value of the embedded derivative at September 30, 2017 was $0 due to a minimal probability of an equity offering occurring where the proceeds are used to pay down the Notes prior to the expiration of the optional prepayment time period on August 15, 2018. At December 31, 2016, the fair value of the embedded derivative was included in the balance sheet as non-current other liabilities. The change in fair value in the amount of $0 and $13.2 million for the three and nine months ended September 30, 2017, respectively, was included in the statements of operations in other income, net. The change in fair value in the amount of $100,000 for the three and nine months ended September 30, 2016 was included in the statement of operations in other income, net.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions The Company accounts for its acquisitions under the acquisition method, and accordingly, the results of operations of acquired entities are included in the Company’s consolidated financial statements from the acquisition date. The purchase price is allocated to the assets acquired based on estimated fair values at the acquisition date, with the excess of purchase price over the estimated fair value of the net assets acquired recorded as goodwill. Purchase accounting adjustments associated with the intangible asset valuations have been recorded as of September 30, 2017. The fair value of acquired intangible assets, primarily related to customer relationships, was estimated by applying a discounted cash flow model. That measure is based on significant Level 3 inputs not observable in the market. Key assumptions were developed based on the Company’s historical experience, future projections and comparable market data including future cash flows, long-term growth rates, implied royalty rates, attrition rates and discount rates. The purchase price allocations for the acquisitions set forth below are preliminary and subject to adjustment as additional information is obtained about facts and circumstances that existed as of the applicable acquisition date. Dominion Interior Supply On January 1, 2017, the Company acquired the operations and certain assets of Dominion Interior Supply Corporation and Dominion Interior Supply of Roanoke LLC (collectively "Dominion Interior Supply"). Dominion Interior Supply was a supplier of suspended ceiling systems to commercial and residential developers in Virginia and North Carolina. Irwin Builders Supply Corporation On April 3, 2017, the Company acquired the operations and certain assets of the specialty building products division of Irwin Builders Supply Corporation ("Irwin") located in Irwin, Pennsylvania. Irwin was a provider of a broad range of building products including wallboard, metal framing, ceiling and wall systems, insulation and other complementary products to the Pennsylvania market. Trident Distribution On April 30, 2017, the Company acquired the operations and certain assets of the Atlanta branch of Trident Distribution, a division of Performance Contracting, Inc. ("Trident"). Trident was a distributor of mechanical insulation and related products. Trident offered insulation fabrication services in addition to a full line of commercial and industrial insulation products and accessories supplying mechanical insulation contractors across the Georgia market. Wallboard, Inc On May 1, 2017, the Company acquired all of the stock of Wallboard, Inc. ("Wallboard") with two branch locations in the Minneapolis-St. Paul metropolitan area. Wallboard was an independent distributor of specialty building products, including wallboard, metal framing, insulation and finishing products primarily servicing the commercial market as well as the multi-family residential market. Gypsum Wallboard Supply, Inc . On May 1, 2017, the Company acquired the operations and certain assets of Gypsum Wallboard Supply, Inc. ("GWSI") in Tacoma, Washington. GWSI was an independent distributor of specialty building products including wallboard, metal framing, suspended ceiling systems and other complementary products. GWSI primarily serviced the commercial market as well as the multi-family residential market in the Seattle metropolitan area. Ceiling and Wall Supply, Inc. On July 1, 2017, the Company acquired the operations and certain assets of Ceiling and Wall Supply, Inc. ("CWS"). CWS was an independent distributor of specialty building products including Armstrong suspended ceiling systems, wallboard, metal framing, insulation, and Dryvit products. CWS primarily serviced the commercial market and operated five branches in Illinois, Kentucky and Missouri. Virginia Builders' Supply, Inc. On July 1, 2017, the Company acquired the operations and certain assets of Virginia Builders' Supply, Inc. ("VBS"). VBS was an independent distributor of specialty building products including wallboard, metal framing, insulation, fasteners, tools and other accessory products used by interior contractors in the commercial and residential markets in Virginia. American Wal-Board On August 1, 2017, the Company acquired the operations and substantially all of the assets of American Wal-Board, LLC, American Materials, LLC, American Drywall & Roofing, LLC and JLS Equipment Leasing, LLC (collectively, "AWB"). AWB was an independent distributor of specialty building products including wallboard, metal framing, insulation, roofing and fireplace products to the commercial and residential markets in Tennessee and Mississippi. During the nine months ended September 30, 2017, the Company completed eight acquisitions for an aggregate purchase price of $74.9 million . The purchase price of the acquisitions ranged from $0.8 million to $20.9 million . These acquisitions are not considered material, individually or in aggregate. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date for the acquisitions summarized above ("2017 acquisitions") (in thousands): Nine Months Ended September 30, 2017 Assets acquired: Cash $ 1,511 Accounts receivable 17,354 Other receivables 1,223 Inventories 10,594 Prepaid and other current assets 292 Property and equipment 8,497 Goodwill 26,279 Intangible assets 17,567 Other assets 23 Total assets acquired: 83,340 Liabilities assumed: Accounts payable (7,405 ) Accrued expenses and other current liabilities (1,067 ) Total liabilities assumed (8,472 ) Total net assets acquired $ 74,868 The excess of purchase price over the fair value amounts assigned to the assets acquired and liabilities assumed represents the goodwill amount resulting from the acquisitions. Goodwill attributable to the acquisitions has been recorded as a non-current asset and is not amortized, but is subject to review at least on an annual basis for impairment. Goodwill recognized was primarily attributable to expected operating efficiencies and expansion opportunities in the businesses acquired. Goodwill and intangible assets recognized from the acquisition are expected to be tax deductible, and each of the 2017 acquisitions was treated as an asset purchase for tax purposes. Generally, the most significant intangible asset acquired is customer relationships. The Company's acquisitions are generally subject to working capital adjustments, however, the Company does not expect any such adjustments to have a material impact on its consolidated financial statements. The pro forma impact of the 2017 acquisitions is not presented as the 2017 acquisitions are not considered material to the Company's consolidated financial statements.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The change in goodwill from December 31, 2016 to September 30, 2017 consisted of the following (in thousands): Carrying Value Balance at December 31, 2016 $ 437,935 Goodwill acquired 26,279 Purchase price allocation adjustments (7,668 ) Impact of foreign exchange rates 1,926 Balance at September 30, 2017 $ 458,472 As of September 30, 2017, goodwill allocated to the SBP and MI segments was $450.9 million and $7.6 million , respectively. As of December 31, 2016, goodwill allocated to the SBP and Ml segments was $432.6 million and $5.3 million , respectively. Changes to initial purchase price allocations related to acquisitions may arise from changes in estimates from conditions that existed at the applicable acquisition date and as a result of net working capital adjustments. Identifiable intangible assets that are separable and have determinable useful lives are valued separately and amortized over their benefit period. The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names $ 15,980 $ (6,492 ) $ 9,488 $ 15,980 $ (4,097 ) $ 11,883 Customer relationships 254,093 (67,442 ) 186,651 235,690 (35,550 ) 200,140 Other intangible assets 3,638 (779 ) 2,859 3,852 (494 ) 3,358 $ 273,711 $ (74,713 ) $ 198,998 $ 255,522 $ (40,141 ) $ 215,381 The weighted average amortization period of these intangible assets in the aggregate is 4.5 years.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt (in thousands) September 30, 2017 December 31, 2016 Senior secured notes $ 575,000 $ 575,000 Unamortized debt issuance costs - senior secured notes (42,924 ) (49,513 ) Asset-based revolving credit facility 79,500 208,469 Unamortized debt issuance costs - asset-based revolving credit facility (3,418 ) (4,182 ) $ 608,158 $ 729,774 Senior Secured Notes Due 2021 On August 9, 2016, the Company, together with FBM Finance, its wholly owned subsidiary which was created for the purpose of issuing the Notes (together, the "Issuers"), issued $575 million in aggregate principal amount of 8.25% senior secured notes due 2021 at an issue price of 100% of the principal amount of the Notes in a private placement. The Notes are fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Alpha and each of Alpha's domestic wholly owned restricted subsidiaries (other than certain excluded subsidiaries) (the "Guarantors"). The Notes are senior secured obligations that have priority over certain collateral of the Issuers and the Guarantors of the Notes and are effectively subordinated to the obligations under the ABL Credit Facility in respect of certain other collateral of the Issuers and the Guarantors of the Notes. The Notes will mature on August 15, 2021 and bear interest at an annual rate of 8.25% . Interest on the Notes is payable semi-annually in arrears in February and August of each year. The Notes are governed by an indenture, dated August 9, 2016, among the Issuers, the Guarantors and Wilmington Trust, National Association, as trustee (the "Indenture"). Before August 15, 2018, the Issuers may redeem all or a portion of the Notes, at a redemption price equal to 100% of the principal amount thereof, plus an applicable premium and accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, prior to August 15, 2018 and in the event of equity offerings, the Issuers are entitled to redeem up to 40% of the aggregate principal amount of the Notes at a redemption price equal to 108.25% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. The Issuers may, at their option, redeem all or a portion of the Notes at any time on or after August 15, 2018 at the applicable redemption prices specified in the Indenture, plus any accrued and unpaid interest to, but excluding, the applicable redemption date. Upon certain kinds of changes of control, holders of the Notes have the right to require the Issuers to repurchase all or any portion of such holder’s Notes at 101% of the principal amount of the Notes being repurchased, plus any accrued and unpaid interest to, but excluding, the date of repurchase. ABL Credit Facility On August 9, 2016, Beta as the Initial Borrower (as defined in the ABL Credit Facility) along with Alpha and additional U.S. and Canadian borrowers entered into the ABL Credit Facility with Goldman Sachs Bank USA as administrative agent, which matures on February 9, 2021. The ABL Credit Facility bears interest, at the applicable borrower's option, at either a Eurodollar rate or an alternate base rate plus an applicable margin. Based on the historical excess availability under the ABL Credit Facility, the margin can range from 1.25% to 1.75% per annum in the case of Eurodollar rate loans and 0.25% to 0.75% per annum in the case of alternate base rate loans. The available borrowing capacity, or borrowing base, is derived from a percentage of the borrowers' eligible receivables and inventory in both the United States and Canada, as defined in the ABL Credit Facility, subject to certain reserves, with a $75 million sub-limit on the Canadian borrowing base. As of the closing of the ABL Credit Facility, the available borrowing capacity was $250 million . A variable commitment fee, ranging from 0.25% to 0.375% and currently 0.25% per annum, is charged on the unused amount of the ABL Credit Facility based on quarterly average loan utilization. Letters of credit under the ABL Credit Facility are assessed at a rate equal to the applicable Eurodollar margin currently 1.50% as well as a fronting fee at a rate of 0.125% per annum. These fees are payable quarterly in arrears at the end of March, June, September, and December. In addition, an administrative agent fee of $75,000 for the ABL Credit Facility is due and payable each year in quarterly installments on the last day of each quarter. The ABL Credit Facility is a senior secured obligation of Alpha, Beta, and the borrowers, with priority over certain collateral of the Company and its subsidiaries. There are no prepayment premiums associated with the ABL Credit Facility. On September 23, 2016, Beta, Alpha and the additional U.S. and Canadian borrowers entered into an Incremental Facility Amendment to the ABL Credit Facility which extended borrowing commitments under the ABL Credit Facility by an additional $50 million , resulting in total borrowing capacity of $300 million .

Tax Receivable Agreement Liabil

Tax Receivable Agreement Liability	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Tax Receivable Agreement Liability	Tax Receivable Agreement Liability In connection with the IPO, the Company entered into a tax receivable agreement ("TRA") with Parent 2 that provides for the payment by the Company to Parent 2 of 90% of the amount of cash savings, if any, in U.S. federal, state, local and non-U.S. income tax that the Company realizes (or in some circumstances are deemed to realize) as a result of the utilization of the Company and the Company’s subsidiaries’ (i) depreciation and amortization deductions, and any offset to taxable income and gain or increase to taxable loss, resulting from the tax basis the Company has in its assets at the consummation of the IPO, (ii) net operating losses, (iii) tax credits and (iv) certain other tax attributes. In the first quarter of 2017, the Company recorded a liability of $203.8 million , with a corresponding offset to additional paid-in capital for the TRA. At the end of each reporting period, any changes in the Company's estimate of the liability will be recorded in the consolidated statement of operations as a component of other income (expense). The timing and amount of future tax benefits associated with the TRA are subject to change, and future payments may be required which could be materially different from the current estimated liability. The TRA will remain in effect until all tax benefits have been used or expired, unless the agreement is terminated early. During the three and nine months ended September 30, 2017, there was no change in the TRA liability that was recorded in the statements of operations. As of September 30, 2017, the TRA liability was $203.8 million . There have been no payments related to the TRA from inception to September 30, 2017. Income Taxes For the three and nine months ended September 30, 2017, the Company's effective tax rates were 46.4% and 41.3% , respectively. The variance from the statutory federal tax rate was primarily due to state income taxes and non-deductible items. For the three and nine months ended September 30, 2016, the Company's effective tax rates were 11.4% and 21.5% , respectively. The variance from the statutory federal tax rate was primarily due to state income taxes and non-deductible items.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consists of cumulative unrealized foreign currency translation adjustments and unrealized gain (loss) on certain derivative instruments. During the nine months ended September 30, 2017, there were no reclassifications out of accumulated other comprehensive income (loss). The components of accumulated other comprehensive income (loss) for the nine months ended September 30, 2017 were as follows (in thousands): Cumulative unrealized foreign currency translation (losses) gains Unrealized gain (loss) on derivative, net of tax Total Balance at December 31, 2016 $ (1,464 ) $ 1,461 $ (3 ) Other comprehensive income (loss) 5,695 (3,047 ) 2,648 Balance at September 30, 2017 $ 4,231 $ (1,586 ) $ 2,645

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is involved in certain legal actions arising in the ordinary course of business. Management believes that such litigation and claims will be resolved without material effect on the Company’s consolidated financial position. The Company regularly assesses such matters to determine the degree of probability that the Company will incur a material loss as a result of such matters as well as the range of possible loss. An estimated loss contingency is accrued in the Company’s financial statements if it is probable the Company will incur a loss and the amount of the loss can be reasonably estimated. The Company reviews all claims, proceedings and investigations at least quarterly and establishes or adjusts any accruals for such matters to reflect the impact of negotiations, settlements, advice of legal counsel and other information and events pertaining to a particular matter. All legal costs associated with such matters are expensed as incurred. Historically, the claims, proceedings and investigations brought against the Company, individually and in the aggregate, have not had a material adverse effect on the consolidated results of operations, cash flows or financial position of the Company. As of September 30, 2017 , there were no proceedings or litigation involving the Company that management believes would have a material adverse impact on its business, financial position, results of operations, or cash flows.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments consist primarily of cash and cash equivalents, trade and other receivables, derivative instruments, accounts payable, long-term debt and accrued liabilities. The carrying value of the Company’s accounts receivable, trade payables and accrued liabilities approximates fair value due to their short-term maturity. The Company may adjust the carrying amount of certain non-financial assets to fair value on a non-recurring basis when they are impaired. The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis at September 30, 2017 is as follows (in thousands): Fair Value Measurements at September 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Non-current liabilities Derivative liability (Note 3) $ — $ (2,722 ) $ — $ (2,722 ) The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis at December 31, 2016 is as follows (in thousands): Fair Value Measurements at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Non-current assets (liabilities) Derivative asset (Note 3) $ — $ 2,475 $ — $ 2,475 Derivative liability (Note 3) $ — $ (13,250 ) $ — $ (13,250 ) The fair values of derivative assets and liabilities are determined using quantitative models that utilize multiple market inputs including interest rates and exchange rates to generate continuous yield or pricing curves and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality and other instrument-specific factors, where appropriate. In addition, the Company incorporates within its fair value measurements a valuation adjustment to reflect the credit risk associated with the net position. Positions are netted by counterparties, and fair value for net long exposures is adjusted for counterparty credit risk while the fair value for net short exposures is adjusted for the Company’s own credit risk. The estimated carrying amount and fair value of the Company’s financial instruments and liabilities for which fair value is only disclosed is as follows (in thousands): Fair Value Measurements at September 30, 2017 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Senior secured notes $ 532,076 $ — $ 613,813 $ — $ 613,813

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Tax Receivable Agreement Liability In connection with the IPO, the Company entered into a tax receivable agreement ("TRA") with Parent 2 that provides for the payment by the Company to Parent 2 of 90% of the amount of cash savings, if any, in U.S. federal, state, local and non-U.S. income tax that the Company realizes (or in some circumstances are deemed to realize) as a result of the utilization of the Company and the Company’s subsidiaries’ (i) depreciation and amortization deductions, and any offset to taxable income and gain or increase to taxable loss, resulting from the tax basis the Company has in its assets at the consummation of the IPO, (ii) net operating losses, (iii) tax credits and (iv) certain other tax attributes. In the first quarter of 2017, the Company recorded a liability of $203.8 million , with a corresponding offset to additional paid-in capital for the TRA. At the end of each reporting period, any changes in the Company's estimate of the liability will be recorded in the consolidated statement of operations as a component of other income (expense). The timing and amount of future tax benefits associated with the TRA are subject to change, and future payments may be required which could be materially different from the current estimated liability. The TRA will remain in effect until all tax benefits have been used or expired, unless the agreement is terminated early. During the three and nine months ended September 30, 2017, there was no change in the TRA liability that was recorded in the statements of operations. As of September 30, 2017, the TRA liability was $203.8 million . There have been no payments related to the TRA from inception to September 30, 2017. Income Taxes For the three and nine months ended September 30, 2017, the Company's effective tax rates were 46.4% and 41.3% , respectively. The variance from the statutory federal tax rate was primarily due to state income taxes and non-deductible items. For the three and nine months ended September 30, 2016, the Company's effective tax rates were 11.4% and 21.5% , respectively. The variance from the statutory federal tax rate was primarily due to state income taxes and non-deductible items.

Segments

Segments	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segments	Segments Segment information is presented in accordance with Accounting Standards Codification ("ASC") 280, Segment Reporting , which establishes standards for reporting information about operating segments. It also establishes standards for related disclosures about customers, products and geographic areas. Operating segments are defined as components of an enterprise that engage in business activities that earn revenues, incur expenses and prepare separate financial information that is evaluated regularly by the Company’s CODM in order to allocate resources and assess performance. Resources are allocated and performance is assessed by the CODM. Based on the provisions of ASC 280, the Company has defined its operating segments by considering management structure and product offerings. This evaluation resulted in the following reportable segments: • Specialty Building Products—SBP distributes wallboard, metal framing, suspended ceiling systems and other products. Other products include stucco and exterior insulation and finish systems, as well as complementary offerings, such as tools, safety accessories and fasteners. The primary end markets served are new non-residential, new residential and non-residential repair and remodel construction markets. • Mechanical Insulation—MI distributes and fabricates commercial and industrial insulation for pipes and mechanical systems and the primary end markets served are new non-residential construction, non-residential repair and remodel construction and industrial markets. In addition to the two reportable segments, the Company’s consolidated results include corporate activities and depreciation and amortization. For purposes of evaluation under these segment reporting principles, the CODM assesses the Company’s ongoing performance based on the periodic review of net sales and gross profit. The Company has not disclosed asset information by segment as its CODM does not use such information for purposes of allocating resources and assessing performance. The following tables present net sales and gross profit for each reportable segment (in thousands): Three Months Ended September 30, 2017 2016 Net Sales Gross Profit Net Sales Gross Profit SBP $ 467,891 $ 135,883 $ 378,280 $ 105,154 MI 67,555 18,900 37,283 7,814 Consolidated $ 535,446 $ 154,783 $ 415,563 $ 112,968 Total gross profit $ 154,783 $ 112,968 Total operating expenses (137,139 ) (109,673 ) Interest expense (15,069 ) (20,688 ) Other income, net 35 79 Income (loss) before income taxes $ 2,610 $ (17,314 ) Nine Months Ended September 30, 2017 2016 Net Sales Gross Profit Net Sales Gross Profit SBP $ 1,346,441 $ 389,037 $ 893,032 $ 256,734 MI 197,692 55,189 37,283 7,814 Consolidated $ 1,544,133 $ 444,226 $ 930,315 $ 264,548 Total gross profit $ 444,226 $ 264,548 Total operating expenses (401,226 ) (252,363 ) Interest expense (45,194 ) (37,202 ) Other income, net 13,419 93 Income (loss) before income taxes $ 11,225 $ (24,924 ) Revenues are attributed to each country based on the location in which sales originate and in which assets are located. The following table provides information about the Company by geographic areas (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 United States $ 473,282 $ 380,095 $ 1,370,301 $ 894,847 Canada 62,164 35,468 173,832 35,468 Total $ 535,446 $ 415,563 $ 1,544,133 $ 930,315 The Company’s net sales by segment and major product line, and segment gross profit and gross margin, are as follows (in thousands): Three Months Ended September 30, Change 2017 2016 $ % SBP Segment Wallboard $ 179,362 38.3 % $ 145,193 38.4 % $ 34,169 23.5 % Suspended ceiling systems 91,933 19.6 % 62,488 16.5 % 29,445 47.1 % Metal framing 71,420 15.3 % 64,950 17.2 % 6,470 10.0 % Other 125,176 26.8 % 105,649 27.9 % 19,527 18.5 % Total SBP net sales $ 467,891 100.0 % $ 378,280 100.0 % $ 89,611 23.7 % MI Segment Commercial and industrial insulation $ 53,447 79.1 % $ 28,128 75.4 % $ 25,319 90.0 % Non-insulation products 14,108 20.9 % 9,155 24.6 % 4,953 54.1 % Total MI net sales $ 67,555 100.0 % $ 37,283 100.0 % $ 30,272 81.2 % Total net sales $ 535,446 $ 415,563 $ 119,883 28.8 % Gross profit - SBP $ 135,883 $ 105,154 $ 30,729 29.2 % Gross profit - MI 18,900 7,814 11,086 141.9 % Total gross profit $ 154,783 $ 112,968 $ 41,815 37.0 % Gross margin - SBP 29.0 % 27.8 % 1.2 % Gross margin - MI 28.0 % 21.0 % 7.0 % Total gross margin 28.9 % 27.2 % 1.7 % Nine Months Ended September 30, Change 2017 2016 $ % SBP Segment Wallboard 528,937 39.3 % $ 371,634 41.6 % $ 157,303 42.3 % Suspended ceiling systems 247,921 18.4 % 118,323 13.2 % 129,598 109.5 % Metal framing 212,486 15.8 % 156,415 17.5 % 56,071 35.8 % Other 357,097 26.5 % 246,660 27.7 % 110,437 44.8 % Total SBP net sales $1,346,441 100.0 % $ 893,032 100.0 % $ 453,409 50.8 % MI Segment Commercial and industrial insulation $ 148,488 75.1 % $ 28,128 75.4 % $ 120,360 427.9 % Non-insulation products 49,204 24.9 % 9,155 24.6 % 40,049 437.5 % Total MI net sales $ 197,692 100.0 % $ 37,283 100 % $ 160,409 430.2 % Total net sales $1,544,133 $ 930,315 $ 613,818 66.0 % Gross profit - SBP $ 389,037 $ 256,734 $ 132,303 51.5 % Gross profit - MI 55,189 7,814 47,375 606.3 % Total gross profit $ 444,226 $ 264,548 $ 179,678 67.9 % Gross margin - SBP 28.9 % 28.7 % 0.2 % Gross margin - MI 27.9 % 21.0 % 6.9 % Total gross margin 28.8 % 28.4 % 0.4 %

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 30, 2017
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The balance of other current liabilities consisted of the following at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Accrued expenses $ 6,992 $ 14,572 Accrued interest 6,180 18,915 Accrued other 15,381 16,126 Total other current liabilities $ 28,553 $ 49,613

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share represents net income (loss) for the period, divided by the weighted average number of shares of common stock outstanding for the period. The following are the number of shares of common stock used to compute the basic and diluted earnings (loss) per share for each period: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Weighted average shares used in basic computations 42,865,407 29,974,239 41,021,808 29,974,239 Dilutive effect of stock options and restricted stock units 4,984 — 2,127 — Weighted average shares used in diluted computations 42,870,391 29,974,239 41,023,935 29,974,239 For the three and nine months ended September 30, 2016, there were no stock options or restricted stock units outstanding, therefore, the basic and diluted share count were the same. For the three and nine months ended September 30, 2017, there were approximately 9,232 and 110,165 shares, respectively, not included in the computation of diluted weighted average shares because their effect would have been antidilutive.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 1, 2017, the Company acquired the operations and substantially all of the assets of MCS Door & Hardware (“MCS"). MCS was an independent distributor of specialty building products including doors, frames, hardware and toilet partitions in connection with new construction and repair and remodel projects in the commercial market in Texas. MCS operated one branch in Texas. On November 1, 2017, the Company acquired all of the shares of Del-Pro Building Supplies, Inc. ("DPSI"). DPSI was an independent distributor of specialty building products including wallboard, metal framing, insulation, basement blanket and spray foam products in the commercial and residential markets. Del-Pro operated one branch in Ontario, Canada. The Company expects to record the purchase price allocations during the fourth quarter of 2017.

Business and Basis of Present22

Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for a fair presentation with respect to the interim financial statements, have been included. The results of operations for interim periods are not necessarily indicative of the results for full fiscal years. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2016, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 28, 2017 (the "2016 10-K").
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The Company has two reportable segments, Specialty Building Products ("SBP") and Mechanical Insulation ("MI"). Resources are allocated and performance is assessed by the Company's CEO, who is the Chief Operating Decision Maker ("CODM") .
Recently Adopted and Issued Accounting Standards	Recently Adopted Accounting Standards In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2015-11, Simplifying the Measurement of Inventory , which applies to inventory valued at first-in, first-out or average cost. ASU 2015-11 requires inventory to be measured at the lower of cost and net realizable value (i.e., selling price less reasonable completion and disposal costs), rather than at the lower of cost or market. ASU 2015-11 is effective on a prospective basis for annual periods beginning after December 15, 2016 , and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2017 and the adoption thereof did not have a material impact on the Company’s consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting . This ASU is intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements, including the income tax effects of share-based payments and accounting for forfeitures. This guidance will require recognizing the Company’s excess tax benefits on share-based compensation arrangements in the tax provision, instead of in equity as under the current guidance. In addition, these amounts will be classified as an operating activity rather than a financing activity in the statement of cash flows. The amendments in this update are effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The Company adopted this guidance on January 1, 2017 and the adoption thereof did not have a material impact on the Company's consolidated financial statements. However, the adoption of this guidance will result in excess tax benefits or deficiencies related to the exercise of share-based compensation awards to employees being included in the determination of the Company’s income tax provision, which could significantly impact the Company’s consolidated net income in future periods. Recently Issued Accounting Standards In May 2014 , the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU No. 2014-09 amends the guidance for revenue recognition to replace numerous, industry-specific requirements. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The ASU also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows arising from contracts with customers. Additional ASUs have been issued to amend or clarify the guidance in this ASU as follows: • ASU No. 2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients was issued in May 2016. ASU No. 2016-12 amends the new revenue recognition standard to clarify the guidance on assessing collectability, presenting sales taxes, measuring noncash consideration, and certain transition matters. • ASU No. 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing was issued in April 2016. ASU No. 2016-10 addresses implementation issues identified by the FASB-International Accounting Standards Board Joint Transition Resource Group for Revenue Recognition. • ASU No. 2016-08 Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) was issued in March 2016. ASU No. 2016-08 requires an entity to determine whether the nature of its promise to provide goods or services to a customer is performed in a principal or agent capacity and to recognize revenue in a gross or net manner based on its principal/agent designation. The guidance in these ASUs is effective for annual reporting periods beginning after December 15, 2017 , including interim periods within that reporting period, and early adoption is permitted for interim and annual periods beginning after December 15, 2016 . The Company is continuing its evaluation of the impact of this standard and does not expect the adoption of this guidance to have a material impact on its consolidated financial statements; however, this expectation is subject to change. The adoption of this guidance will likely result in additional disclosures regarding the Company's revenue recognition polices. The Company currently plans to adopt this new guidance using the modified retrospective method. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The updated guidance enhances the reporting model for financial instruments by modifying how entities measure and recognize equity investments and present changes in the fair value of financial liabilities, and by simplifying the disclosure guidance for financial instruments. The amendments in this update are effective for fiscal years beginning after December 15, 2017. The amendments in this update should be applied prospectively. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In February 2016 , the FASB issued ASU No. 2016-02, Leases (Topic 842). ASU No. 2016-02 establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either "finance" or "operating," with classification affecting the pattern of expense recognition in the income statement. This update requires a modified retrospective transition as of the beginning of the earliest comparative period presented in the financial statements. This update is effective for fiscal years beginning after December 15, 2018 , and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In August 2016 , the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 amended the existing accounting standards for the statement of cash flows. The amendments provide guidance on eight classification issues related to the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2017 , and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business , which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This amendment is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the requirement to calculate the implied fair value of goodwill but rather requires an entity to record an impairment charge based on the excess of a reporting unit’s carrying value over its fair value. This amendment is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date for the acquisitions summarized above ("2017 acquisitions") (in thousands): Nine Months Ended September 30, 2017 Assets acquired: Cash $ 1,511 Accounts receivable 17,354 Other receivables 1,223 Inventories 10,594 Prepaid and other current assets 292 Property and equipment 8,497 Goodwill 26,279 Intangible assets 17,567 Other assets 23 Total assets acquired: 83,340 Liabilities assumed: Accounts payable (7,405 ) Accrued expenses and other current liabilities (1,067 ) Total liabilities assumed (8,472 ) Total net assets acquired $ 74,868

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in goodwill from December 31, 2016 to September 30, 2017 consisted of the following (in thousands): Carrying Value Balance at December 31, 2016 $ 437,935 Goodwill acquired 26,279 Purchase price allocation adjustments (7,668 ) Impact of foreign exchange rates 1,926 Balance at September 30, 2017 $ 458,472
Schedule of Finite-Lived Intangible Assets	The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names $ 15,980 $ (6,492 ) $ 9,488 $ 15,980 $ (4,097 ) $ 11,883 Customer relationships 254,093 (67,442 ) 186,651 235,690 (35,550 ) 200,140 Other intangible assets 3,638 (779 ) 2,859 3,852 (494 ) 3,358 $ 273,711 $ (74,713 ) $ 198,998 $ 255,522 $ (40,141 ) $ 215,381

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	(in thousands) September 30, 2017 December 31, 2016 Senior secured notes $ 575,000 $ 575,000 Unamortized debt issuance costs - senior secured notes (42,924 ) (49,513 ) Asset-based revolving credit facility 79,500 208,469 Unamortized debt issuance costs - asset-based revolving credit facility (3,418 ) (4,182 ) $ 608,158 $ 729,774

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The components of accumulated other comprehensive income (loss) for the nine months ended September 30, 2017 were as follows (in thousands): Cumulative unrealized foreign currency translation (losses) gains Unrealized gain (loss) on derivative, net of tax Total Balance at December 31, 2016 $ (1,464 ) $ 1,461 $ (3 ) Other comprehensive income (loss) 5,695 (3,047 ) 2,648 Balance at September 30, 2017 $ 4,231 $ (1,586 ) $ 2,645

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis at September 30, 2017 is as follows (in thousands): Fair Value Measurements at September 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Non-current liabilities Derivative liability (Note 3) $ — $ (2,722 ) $ — $ (2,722 ) The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis at December 31, 2016 is as follows (in thousands): Fair Value Measurements at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Non-current assets (liabilities) Derivative asset (Note 3) $ — $ 2,475 $ — $ 2,475 Derivative liability (Note 3) $ — $ (13,250 ) $ — $ (13,250 )
Schedule of Carrying Amount and Fair Value of Financial Instruments	The estimated carrying amount and fair value of the Company’s financial instruments and liabilities for which fair value is only disclosed is as follows (in thousands): Fair Value Measurements at September 30, 2017 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Senior secured notes $ 532,076 $ — $ 613,813 $ — $ 613,813

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following tables present net sales and gross profit for each reportable segment (in thousands): Three Months Ended September 30, 2017 2016 Net Sales Gross Profit Net Sales Gross Profit SBP $ 467,891 $ 135,883 $ 378,280 $ 105,154 MI 67,555 18,900 37,283 7,814 Consolidated $ 535,446 $ 154,783 $ 415,563 $ 112,968 Total gross profit $ 154,783 $ 112,968 Total operating expenses (137,139 ) (109,673 ) Interest expense (15,069 ) (20,688 ) Other income, net 35 79 Income (loss) before income taxes $ 2,610 $ (17,314 ) Nine Months Ended September 30, 2017 2016 Net Sales Gross Profit Net Sales Gross Profit SBP $ 1,346,441 $ 389,037 $ 893,032 $ 256,734 MI 197,692 55,189 37,283 7,814 Consolidated $ 1,544,133 $ 444,226 $ 930,315 $ 264,548 Total gross profit $ 444,226 $ 264,548 Total operating expenses (401,226 ) (252,363 ) Interest expense (45,194 ) (37,202 ) Other income, net 13,419 93 Income (loss) before income taxes $ 11,225 $ (24,924 )
Schedule of Segment Reporting Information, by Segment	The following table provides information about the Company by geographic areas (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 United States $ 473,282 $ 380,095 $ 1,370,301 $ 894,847 Canada 62,164 35,468 173,832 35,468 Total $ 535,446 $ 415,563 $ 1,544,133 $ 930,315
Schedule of Revenue from External Customers by Products and Services	The Company’s net sales by segment and major product line, and segment gross profit and gross margin, are as follows (in thousands): Three Months Ended September 30, Change 2017 2016 $ % SBP Segment Wallboard $ 179,362 38.3 % $ 145,193 38.4 % $ 34,169 23.5 % Suspended ceiling systems 91,933 19.6 % 62,488 16.5 % 29,445 47.1 % Metal framing 71,420 15.3 % 64,950 17.2 % 6,470 10.0 % Other 125,176 26.8 % 105,649 27.9 % 19,527 18.5 % Total SBP net sales $ 467,891 100.0 % $ 378,280 100.0 % $ 89,611 23.7 % MI Segment Commercial and industrial insulation $ 53,447 79.1 % $ 28,128 75.4 % $ 25,319 90.0 % Non-insulation products 14,108 20.9 % 9,155 24.6 % 4,953 54.1 % Total MI net sales $ 67,555 100.0 % $ 37,283 100.0 % $ 30,272 81.2 % Total net sales $ 535,446 $ 415,563 $ 119,883 28.8 % Gross profit - SBP $ 135,883 $ 105,154 $ 30,729 29.2 % Gross profit - MI 18,900 7,814 11,086 141.9 % Total gross profit $ 154,783 $ 112,968 $ 41,815 37.0 % Gross margin - SBP 29.0 % 27.8 % 1.2 % Gross margin - MI 28.0 % 21.0 % 7.0 % Total gross margin 28.9 % 27.2 % 1.7 % Nine Months Ended September 30, Change 2017 2016 $ % SBP Segment Wallboard 528,937 39.3 % $ 371,634 41.6 % $ 157,303 42.3 % Suspended ceiling systems 247,921 18.4 % 118,323 13.2 % 129,598 109.5 % Metal framing 212,486 15.8 % 156,415 17.5 % 56,071 35.8 % Other 357,097 26.5 % 246,660 27.7 % 110,437 44.8 % Total SBP net sales $1,346,441 100.0 % $ 893,032 100.0 % $ 453,409 50.8 % MI Segment Commercial and industrial insulation $ 148,488 75.1 % $ 28,128 75.4 % $ 120,360 427.9 % Non-insulation products 49,204 24.9 % 9,155 24.6 % 40,049 437.5 % Total MI net sales $ 197,692 100.0 % $ 37,283 100 % $ 160,409 430.2 % Total net sales $1,544,133 $ 930,315 $ 613,818 66.0 % Gross profit - SBP $ 389,037 $ 256,734 $ 132,303 51.5 % Gross profit - MI 55,189 7,814 47,375 606.3 % Total gross profit $ 444,226 $ 264,548 $ 179,678 67.9 % Gross margin - SBP 28.9 % 28.7 % 0.2 % Gross margin - MI 27.9 % 21.0 % 6.9 % Total gross margin 28.8 % 28.4 % 0.4 %

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The balance of other current liabilities consisted of the following at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Accrued expenses $ 6,992 $ 14,572 Accrued interest 6,180 18,915 Accrued other 15,381 16,126 Total other current liabilities $ 28,553 $ 49,613

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following are the number of shares of common stock used to compute the basic and diluted earnings (loss) per share for each period: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Weighted average shares used in basic computations 42,865,407 29,974,239 41,021,808 29,974,239 Dilutive effect of stock options and restricted stock units 4,984 — 2,127 — Weighted average shares used in diluted computations 42,870,391 29,974,239 41,023,935 29,974,239

Business and Basis of Present31

Business and Basis of Presentation - Narrative (Details) $ / shares in Units, $ in Millions	Feb. 24, 2017shares	Feb. 15, 2017USD ($)$ / sharesshares	Sep. 30, 2017employeesegmentlocation$ / shares	Dec. 31, 2016$ / shares
Class of Stock [Line Items]
Proceeds from issuance of stock | $		$ 164
Common stock par value (in dollars per share) | $ / shares		$ 13,000	$ 0.001	$ 0.001
Number of reportable segments | segment			2
IPO
Class of Stock [Line Items]
Options exercised by underwriters to purchase additional shares (in shares) | shares		12,800,000
Public offering price of stock (in dollars per share) | $ / shares		$ 14
Parent 2 | Over-Allotment Option
Class of Stock [Line Items]
Options exercised by underwriters to purchase additional shares (in shares) | shares	1,920,000
U.S. and Canada
Class of Stock [Line Items]
Number of employees (more than) | employee			3,500
Number of branch locations (more than) | location			220

Derivatives and Hedging Activ32

Derivatives and Hedging Activities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Derivative [Line Items]
Net of tax effect on unrealized loss on derivatives	$ (1,000)	$ (300)	$ (1,900)	$ (300)
Percentage of option to prepay in equity offerings			40.00%
Period of option to prepay using proceeds from equity offering			180 days
Percentage of principal amount outstanding			50.00%
Redemption price percentage			108.25%
Other Noncurrent Liabilities
Derivative [Line Items]
Fair value of embedded derivative liability	0		$ 0		$ 13,200
Other Operating Income (Expense)
Derivative [Line Items]
Change in fair value in amount included as other income (expense)	0	100	13,200	100
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Notional foreign exchange contract outstanding	88,000		88,000		88,000
Loss recognized in other comprehensive income (loss)	1,600		0
Net of tax effect on unrealized loss on derivatives	1,000	(300)	1,900	(300)
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion		700		700
Ineffective portion of loss	111		205
Derivative Instruments, Gain Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing		$ 48		$ 48
Designated as Hedging Instrument | Foreign Exchange Contract | Other Noncurrent Liabilities
Derivative [Line Items]
Fair value asset of derivative instrument	$ 2,700		$ 2,700
Designated as Hedging Instrument | Foreign Exchange Contract | Other Noncurrent Assets
Derivative [Line Items]
Fair value asset of derivative instrument					$ 2,400
Senior Secured Notes Due 2021
Derivative [Line Items]
Percentage of option to prepay principal amount (equal to)			100.00%
Senior Notes | Senior Secured Notes Due 2021
Derivative [Line Items]
Periodic payment			$ 575,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	Jul. 01, 2017location	May 01, 2017location	Sep. 30, 2017USD ($)acquisition
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Number of acquisitions completed | acquisition			8
Purchase price of acquisitions			$ 74.9
Minneapolis-St. Paul Metropolitan Area | Wallboard, Inc.
Business Acquisition [Line Items]
Number of branch locations | location		2
Missouri, Illinois and Kentucky | Ceiling and Wall Supply, Inc.
Business Acquisition [Line Items]
Number of branch locations | location	5
Minimum | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Purchase price of acquisitions			0.8
Maximum | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Purchase price of acquisitions			$ 20.9

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets acquired:
Goodwill	$ 458,472	$ 437,935
Series of Individually Immaterial Business Acquisitions
Assets acquired:
Cash	1,511
Accounts receivable	17,354
Other receivables	1,223
Inventories	10,594
Prepaid and other current assets	292
Property and equipment	8,497
Goodwill	26,279
Intangible assets	17,567
Other assets	23
Total assets acquired	83,340
Liabilities assumed:
Accounts payable	(7,405)
Accrued expenses and other current liabilities	(1,067)
Total liabilities assumed	(8,472)
Total net assets acquired	$ 74,868

Goodwill and Intangible Asset35

Goodwill and Intangible Assets - Schedule of Change in Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 437,935
Goodwill acquired	26,279
Purchase price allocation adjustments	(7,668)
Impact of foreign exchange rates	1,926
Ending balance	$ 458,472

Goodwill and Intangible Asset36

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Goodwill	$ 458,472	$ 437,935
Weighted average amortization period	4 years 6 months
Specialty Building Products
Segment Reporting Information [Line Items]
Goodwill	$ 450,900	432,600
Mechanical Insulation
Segment Reporting Information [Line Items]
Goodwill	$ 7,600	$ 5,300

Goodwill and Intangible Asset37

Goodwill and Intangible Assets - Schedule of Gross Carrying Value and Accumulated Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 273,711	$ 255,522
Accumulated Amortization	(74,713)	(40,141)
Net Carrying Amount	198,998	215,381
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15,980	15,980
Accumulated Amortization	(6,492)	(4,097)
Net Carrying Amount	9,488	11,883
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	254,093	235,690
Accumulated Amortization	(67,442)	(35,550)
Net Carrying Amount	186,651	200,140
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,638	3,852
Accumulated Amortization	(779)	(494)
Net Carrying Amount	$ 2,859	$ 3,358

Long-Term Debt - Schedule of L

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Long-term debt	$ 608,158	$ 729,774
Asset-based revolving credit facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Senior secured notes	79,500	208,469
Unamortized debt issuance costs	(3,418)	(4,182)
Senior Secured Notes Due 2021 | Senior secured notes
Line of Credit Facility [Line Items]
Senior secured notes	575,000	575,000
Unamortized debt issuance costs	$ (42,924)	$ (49,513)

Long-Term Debt Long-Term Debt -

Long-Term Debt Long-Term Debt - Narrative (Details) - USD ($)	Aug. 09, 2016	Sep. 30, 2017	Sep. 23, 2016
Debt Instrument [Line Items]
Redemption price percentage		108.25%
Senior Notes | Senior Secured Notes Due 2021
Debt Instrument [Line Items]
Principal amount of debt	$ 575,000,000
Interest rate, stated percentage	8.25%
Interest rate during period	100.00%
Periodic payment		$ 575,000,000
Senior Notes | Senior Secured Notes Due 2021 | Debt Instrument, Redemption, Period One Due Before August 15, 2018
Debt Instrument [Line Items]
Redemption price percentage	40.00%
Senior Notes | Senior Secured Notes Due 2021 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price percentage	108.25%
Senior Notes | Senior Secured Notes Due 2021 | Debt Instrument, Redemption, Due Before August 15, 2018
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Senior Notes | Senior Secured Notes Due 2021 | Debt Instrument, Change of Control, Period
Debt Instrument [Line Items]
Redemption price percentage	101.00%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000		$ 300,000,000
Commitment fee percentage	0.25%
Periodic payment		$ 75,000
Additional borrowing capacity			$ 50,000,000
Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.25%
Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
Revolving Credit Facility | Line of Credit | Eurodollar
Debt Instrument [Line Items]
Margin rate, percentage		1.50%
Fronting fee		0.125%
Revolving Credit Facility | Line of Credit | Eurodollar | Minimum
Debt Instrument [Line Items]
Margin rate, percentage	1.25%
Revolving Credit Facility | Line of Credit | Eurodollar | Maximum
Debt Instrument [Line Items]
Margin rate, percentage	1.75%
Revolving Credit Facility | Line of Credit | Base Rate | Minimum
Debt Instrument [Line Items]
Margin rate, percentage	0.25%
Revolving Credit Facility | Line of Credit | Base Rate | Maximum
Debt Instrument [Line Items]
Margin rate, percentage	0.75%
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000

Tax Receivable Agreement Liab40

Tax Receivable Agreement Liability - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Income Tax Disclosure [Abstract]
Reduction in federal, state, local and non-US income taxes (in percentage)	90.00%
Liability for tax receivable agreement	$ 203.8

Accumulated Other Comprehensi41

Accumulated Other Comprehensive Income (Loss) - Schedule of Components of Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 328,516
Other comprehensive income (loss)	$ 1,390	$ 875	2,648	$ 875
Ending balance	302,842		302,842
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(3)
Ending balance	2,645		2,645
Cumulative unrealized foreign currency translation (losses) gains
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(1,464)
Other comprehensive income (loss)			5,695
Ending balance	4,231		4,231
Unrealized gain (loss) on derivative, net of tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			1,461
Other comprehensive income (loss)			(3,047)
Ending balance	$ (1,586)		$ (1,586)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective income tax rates (in percentage)	46.40%	11.40%	41.30%	21.50%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Amount of Assets and Liabilities on a Recurring Basis(Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Non-current assets (liabilities)
Derivative Liability	$ (2,722)	$ (13,250)
Derivative asset		2,475
Quoted Prices in Active Markets for Identical Assets (Level 1)
Non-current assets (liabilities)
Derivative Liability	0	0
Derivative asset		0
Significant Other Observable Inputs (Level 2)
Non-current assets (liabilities)
Derivative Liability	(2,722)	(13,250)
Derivative asset		2,475
Significant Unobservable Inputs (Level 3)
Non-current assets (liabilities)
Derivative Liability	$ 0	0
Derivative asset		$ 0

Fair Value Measurements - Sch44

Fair Value Measurements - Schedule of Liabilities Measured on a Recurring Basis (Details) $ in Thousands	Sep. 30, 2017USD ($)
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior secured notes	$ 532,076
Total Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior secured notes	613,813
Total Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior secured notes	0
Total Fair Value | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior secured notes	613,813
Total Fair Value | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior secured notes	$ 0

Segments - Narrative (Details)

Segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2017segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Schedule of Revenues

Segments - Schedule of Revenues by Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales	$ 535,446	$ 415,563	$ 1,544,133	$ 930,315
Gross Profit	154,783	112,968	444,226	264,548
Total operating expenses	(137,139)	(109,673)	(401,226)	(252,363)
Interest expense	(15,069)	(20,688)	(45,194)	(37,202)
Other income, net	35	79	13,419	93
Income (loss) before income taxes	2,610	(17,314)	11,225	(24,924)
SBP
Segment Reporting Information [Line Items]
Net sales	467,891	378,280	1,346,441	893,032
Gross Profit	135,883	105,154	389,037	256,734
MI
Segment Reporting Information [Line Items]
Net sales	67,555	37,283	197,692	37,283
Gross Profit	$ 18,900	$ 7,814	$ 55,189	$ 7,814

Segments - Schedule of Informat

Segments - Schedule of Information by Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues by geographic areas	$ 535,446	$ 415,563	$ 1,544,133	$ 930,315
United States
Segment Reporting Information [Line Items]
Revenues by geographic areas	473,282	380,095	1,370,301	894,847
Canada
Segment Reporting Information [Line Items]
Revenues by geographic areas	$ 62,164	$ 35,468	$ 173,832	$ 35,468

Segments - Schedule of Net Sale

Segments - Schedule of Net Sales From External Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue from External Customer [Line Items]
Net sales	$ 535,446	$ 415,563	$ 1,544,133	$ 930,315
Change in Net Sales	$ 119,883		$ 613,818
Percentage Change in Net Sales	28.80%		66.00%
Gross Profit	$ 154,783	$ 112,968	$ 444,226	$ 264,548
Change in Gross Profit	$ 41,815		$ 179,678
Percentage Change in Gross Profit	37.00%		67.90%
Gross Margin Percentage	28.90%	27.20%	28.80%	28.40%
Percentage Change in Gross Margin	1.70%		0.40%
SBP
Revenue from External Customer [Line Items]
Net sales	$ 467,891	$ 378,280	$ 1,346,441	$ 893,032
Percentage of Net Sales	100.00%	100.00%	100.00%	100.00%
Change in Net Sales	$ 89,611		$ 453,409
Percentage Change in Net Sales	23.70%		50.80%
Gross Profit	$ 135,883	$ 105,154	$ 389,037	$ 256,734
Change in Gross Profit	$ 30,729		$ 132,303
Percentage Change in Gross Profit	29.20%		51.50%
Gross Margin Percentage	29.00%	27.80%	28.90%	28.70%
Percentage Change in Gross Margin	1.20%		0.20%
SBP | Wallboard
Revenue from External Customer [Line Items]
Net sales	$ 179,362	$ 145,193	$ 528,937	$ 371,634
Percentage of Net Sales	38.30%	38.40%	39.30%	41.60%
Change in Net Sales	$ 34,169		$ 157,303
Percentage Change in Net Sales	23.50%		42.30%
SBP | Suspended ceiling systems
Revenue from External Customer [Line Items]
Net sales	$ 91,933	$ 62,488	$ 247,921	$ 118,323
Percentage of Net Sales	19.60%	16.50%	18.40%	13.20%
Change in Net Sales	$ 29,445		$ 129,598
Percentage Change in Net Sales	47.10%		109.50%
SBP | Metal framing
Revenue from External Customer [Line Items]
Net sales	$ 71,420	$ 64,950	$ 212,486	$ 156,415
Percentage of Net Sales	15.30%	17.20%	15.80%	17.50%
Change in Net Sales	$ 6,470		$ 56,071
Percentage Change in Net Sales	10.00%		35.80%
SBP | Other
Revenue from External Customer [Line Items]
Net sales	$ 125,176	$ 105,649	$ 357,097	$ 246,660
Percentage of Net Sales	26.80%	27.90%	26.50%	27.70%
Change in Net Sales	$ 19,527		$ 110,437
Percentage Change in Net Sales	18.50%		44.80%
Mechanical Insulation
Revenue from External Customer [Line Items]
Net sales	$ 67,555	$ 37,283	$ 197,692	$ 37,283
Percentage of Net Sales	100.00%	100.00%	100.00%	100.00%
Change in Net Sales	$ 30,272		$ 160,409
Percentage Change in Net Sales	81.20%		430.20%
Gross Profit	$ 18,900	$ 7,814	$ 55,189	$ 7,814
Change in Gross Profit	$ 11,086		$ 47,375
Percentage Change in Gross Profit	141.90%		606.30%
Gross Margin Percentage	28.00%	21.00%	27.90%	21.00%
Percentage Change in Gross Margin	7.00%		6.90%
Mechanical Insulation | Commercial and industrial insulation
Revenue from External Customer [Line Items]
Net sales	$ 53,447	$ 28,128	$ 148,488	$ 28,128
Percentage of Net Sales	79.10%	75.40%	75.10%	75.40%
Change in Net Sales	$ 25,319		$ 120,360
Percentage Change in Net Sales	90.00%		427.90%
Mechanical Insulation | Non-insulation products
Revenue from External Customer [Line Items]
Net sales	$ 14,108	$ 9,155	$ 49,204	$ 9,155
Percentage of Net Sales	20.90%	24.60%	24.90%	24.60%
Change in Net Sales	$ 4,953		$ 40,049
Percentage Change in Net Sales	54.10%		437.50%

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilites (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 6,992	$ 14,572
Accrued interest	6,180	18,915
Accrued other	15,381	16,126
Total other current liabilities	$ 28,553	$ 49,613

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Common Share Amounts Used to Compute Basic and Diluted EPS(Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted average shares used in basic computations (in shares)	42,865,407	29,974,239	41,021,808	29,974,239
Dilutive effect of stock options and restricted stock units (in shares)	4,984	0	2,127	0
Weighted average shares used in diluted computations (in shares)	42,870,391	29,974,239	41,023,935	29,974,239

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of weighted average common shares (in shares)	9,232	110,165