A subsidiary of UFP Industries acquired a factory housing distribution and logistics company in Alabama.
Grand Rapids Township-based UFP Industries (Nasdaq: UFPI) said last month that UFP Distribution, a wholly owned subsidiary of UFP Construction, which is part of UFP Industries, acquired the operating assets of Haleyville, Alabama-based Shelter Products Inc. for $6.5 million.
Shelter Products operates its distribution and logistics business from an 87,800-square-foot warehouse that specializes in serving manufactured housing industry customers.
Shelter Products’ facility is adjacent to a UFP manufacturing facility that supplies trusses to manufactured housing builders, and the proximity will enable additional operational synergies, UFP said. Shelter Products had sales of $11.4 million in 2020.
Stephen Sampson, president and CEO of Shelter Products, will continue to serve the company in a consultative role while assisting with the integration of Shelter Products into UFP Distribution, which provides distribution and logistics support to factory-built manufacturers through nine warehouses across the U.S.
“We continue to believe the lack of affordable housing will create greater demand for factory-built housing, and Shelter Products will help us meet this demand and offer opportunities to distribute new products in the southern U.S.,” said Patrick Benton, president of UFP Construction. “Shelter Products has been a terrific vendor for us for many years, and their talented team has an unmatched reputation for customer service. This transaction, which will be seamless to customers, is another example of how UFP’s new organizational structure creates more focus on individual markets and products.”
Sampson said Shelter Products has long been impressed with UFP Industries’ “entrepreneurial culture and success” throughout their two decades of working together.
“We are a family company, and joining UFP ensures my work family that they will not only continue to enjoy the culture they created but take advantage of more business and career opportunities in the future,” he said. “We are excited to join the UFP family.”
UFP Industries Inc.
Founded in 1955, UFP Industries is a holding company whose operating subsidiaries — UFP Industrial, UFP Construction and UFP Retail Solutions — manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide.
The company is based in Grand Rapids Township with affiliates in North America, Europe, Asia and Australia.
