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DALLAS (AP) - Builders FirstSource Inc. is buying professional building materials supplier ProBuild for more than $1.6 billion.

Dallas-based Builders FirstSource seeks to diversify its business and expand its geographic reach. The deal announced Monday comes as mortgage rates are approaching historically low levels.

Privately held ProBuild Holdings Inc. runs lumberyards, component facilities, millwork shops, gypsum yards and retail stores across 40 states. The Denver company's 2014 revenue was approximately $4.5 billion.

Builders FirstSource is a supplier and maker of structural and related building products for new residential construction in the U.S.

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