- change ups
Universal Forest acquires insulation maker
Universal Forest Products is buying a maker of insulation that's made mostly from recycled materials.
Grand Rapids-based Universal Forest Products said today that a subsidiary agreed to purchase the assets of National Fiber, an insulation manufacturer in Belchertown, Mass., which serves markets in the Northeast.
The transaction should be finished by Jan. 31. Terms of the deal were not disclosed.
National Fiber sales for 2014 are forecast at $12.5 million.
The company makes Cel-Pak and Nu-Wool cellulose insulation, which is made up of more than of 83 percent recycled content, including newsprint.
National Fiber’s insulation features a Class A fire rating and fire-blocking capabilities.
National Fiber also provides training and equipment for installers on the East Coast, with manufacturing and training facilities in Belchertown.
Universal Forest Products, a holding company, provides capital and management to subsidiaries that manufacture and design wood products for home centers and other retailers.
“This is a strong complement to our housing and construction business, which continues to improve in the Northeast,” said Universal Forest Products CEO Matthew J. Missad. “National Fiber has built a solid business and an excellent reputation as a leader in the cellulose insulation industry, using predominantly recycled materials. We’re delighted to add the company and its people to the Universal family of companies and look forward to growing success together for many years to come.”
National Fiber President Chris Hoch said, “We pride ourselves on being at the forefront of our industry, and we’re pleased to be joining a company with a strong reputation for exceptional products and service to its customers. This is a great opportunity for our company.”