Universal Forest acquires $30M company
Universal Forest Products has acquired a maker of hardwood products with about $30 million in annual net sales.
Grand Rapids-based Universal Forest Products said yesterday one of its affiliates has closed on the purchase of “certain assets” of Nappanee, Indiana-based Quality Hardwood Sales, whose portfolio includes components for cabinets used in homes and recreational vehicles.
This is Universal’s first operation devoted to hardwood products and will expand the Universal portfolio, while providing Quality Hardwood with additional markets for its products and the opportunity to grow its customer base and product offering.
Quality Hardwood’s management team will remain with the company.
Matthew Missad said Quality Hardwood Sales has "exceptional" manufacturing expertise, a strong management team and products that are "known in the industry for their superiority."
“Its leaders share our devotion to lasting customer relationships and to diversification and growth,” Missad said.
Previously announced acquisition
Universal Forest Products also said yesterday one of its affiliates closed on a previously announced acquisition of Tampa, Florida-based Robbins Manufacturing Co., a maker of treated wood products with facilities in Florida, Georgia and North Carolina.
The five operations included in the acquisition had net sales of $86 million in 2016.
Universal Forest Products 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.
Its affiliates are located throughout North America.