Universal Forest acquires $4M lumber supplier
Universal Forest Products has acquired a lumber supplier to “establish a foothold in the healthy Idaho market.”
Universal Forest in Grand Rapids said yesterday that “one of its subsidiaries” has acquired “certain assets” of Rapid Wood Mfg. in Caldwell, Idaho.
Rapid Wood Mfg. supplies lumber products to the region’s manufactured housing and recreational vehicle industries.
It expects 2015 sales will be approximately $4 million.
Universal Forest said the acquisition will open “doors to opportunity for expansion and growth in new territory” and allow the company to better serve existing customers in the region.
Universal’s affiliates currently serve the market on a limited basis from their Oregon manufacturing facilities.
“This is a good opportunity to establish a manufacturing and sales presence in Idaho, bringing us closer to some of our valued customers and expanding the strong capabilities of our organization in a growing market,” said Matthew Missad, CEO, Universal Forest Products.
The principal of Rapid Wood Mfg., Bob Brizendine, will stay on in a management role.
“We are excited to be joining the companies of Universal Forest Products and becoming a part of a firm that’s respected in its industries,” Brizendine said.
Universal Forest Products, founded in 1955, is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to the retail, construction and industrial markets.