UFP Industries is expanding its supply base in the construction market with the acquisition of three companies based in New Hampshire.
The Grand Rapids-based holding company UFP Industries (Nasdaq: UFPI), said this week that affiliates of its division UFP Construction acquired the assets of three sister companies: Wilton, New Hampshire-based Atlantic Prefab, and Exterior Designs and Patriot Building Systems, both based in Londonderry, New Hampshire.
The companies, which had combined trailing 12-month sales through September of about $28 million, serve the commercial and multifamily construction markets in the northeast U.S.
The operational leadership of the three businesses will remain unchanged.
“The employees of these three companies have done an excellent job growing their businesses, creating long-term relationships with customers, and developing expertise in areas of commercial and multifamily construction that are mostly new to UFP Industries,” said Mike Ellerbrook, executive vice president, site built, for UFP Construction. “They will help us expand our product offerings and give other UFP companies opportunities to extend their existing business lines into new markets.”
Atlantic Prefab produces prefabricated steel wall panels and light gauge metal trusses. The company’s steel component and prefinished wall panel lines are new, value-added product additions for UFP Construction that will help shorten project timelines, UFP said.
Exterior Designs is an installer of siding and exterior cladding such as fiber cement, aluminum composite material panels, phenolic panels and exterior insulation and finish systems.
Patriot Building Systems provides commercial and multifamily framing services and will focus on markets not currently served by companies of UFP Industries.
“It’s been a pleasure working with UFP Industries during this transaction,” said Mike Dion, majority owner of the acquired companies. “I want to thank the employees of all three companies for their commitment and excellent work over the years. It’s reassuring to know that our employees and customers are in good hands and will be well taken care of.”
UFP Industries CEO Matthew Missad said the acquisitions fit into UFP’s new strategy that was formed in an operational reorganization last year.
“Last year, we reorganized our operations to bring more focus and more efficient use of capital and resources to the markets we serve,” he said. “The acquisition of these three complementary companies is an example of how our reorganization is helping us grow and bring more value-added products and services to our construction customers. These companies have outstanding reputations, and we’re excited that they’ve joined the UFP family of companies.”
Founded in 1955, UFP Industries is a holding company whose subsidiaries supply wood, wood composite and other products to three markets: retail, construction and industrial.
The company is headquartered in Grand Rapids with affiliates throughout North America, Europe, Asia and Australia.