In the News
MERGERS AND ACQUISITIONS
Marshfield Acquires Bolection Door
Marshfield DoorSystems Inc., of Marshfield, Wis., has agreed to acquire Greensboro, N.C.-based Bolection Door for an undisclosed price. Marshfield says the transaction will create a combined company with a presence in both commercial (Marshfield) and residential (Bolection) market segments, as well as manufacturing presence in Wisconsin and North Carolina. At press time, the acquisition was in its final stages.
“Bolection’s architectural correctness, design capabilities and innovative high-end construction mirror Marshfield DoorSystems’ standards and capabilities for high-quality doors,” said Dick Krant, chief executive officer of Marshfield DoorSystems. “Furthermore, the people at Bolection are passionate about their work and will make a great addition to our team.”
David Cox and Robert Stuart, co-founders of Bolection, will stay with the business as executives of Marshfield DoorSystems.
“We’ve been impressed with Marshfield DoorSystems’ standards and their commitment to a long-term vision,” said Cox. “We’re looking forward to joining forces.”
Woodgrain Millwork Purchases American Pine Products
Woodgrain Millwork of Fruitland, Idaho, has purchased the American Pine Products manufacturing facility from Huttig Building Products.
Located in Prineville, Ore., the facility manufactures exterior door frames and mouldings. The facility covers 571,000 square feet with more than 13 acres under roof. The facility has a manufacturing capacity of more than 50 million board feet of pine moulding, wood window frames, door components, specialty millwork and cut-stock operations. With a rich history dating back to 1959, Woodgrain says the facility forms an important part of the community. It employs more than 400 people.
“The acquisition of the American Pine business allows Woodgrain Millwork to continue to dominate the market for wood mouldings,” said Kelly Dame, executive vice president of Woodgrain Millwork. “We are pleased to bring the facility and its talented workforce into the Woodgrain network of manufacturing facilities.”
ABC Supply Co. Adds Seven New Locations in Key Markets
Through a combination of multiple acquisitions, ABC Supply Co. Inc. of Beloit, Wis., has added seven new locations this year to its national network of wholesale distribution centers for the professional contractor. The company recently acquired PACO Building Supply of St. Louis, with locations in St. Louis, St. Charles and Crystal City, Mo. The transaction became effective June 28, 2004.
“The addition of PACO’s 20-year history in siding and window expertise will enhance the product mix we currently offer customers in the St. Louis area,” said David Luck, president and chief operations officer of ABC Supply. “Customers in this market will see these products becoming core to our business.”
ABC Supply has operated distribution centers in the greater St. Louis market for 20 years.
The former PACO locations, which specialize in siding and windows, will be expanded to include ABC Supply’s lines of select exterior building products, as well as related tools and equipment for the professional contractor.
Earlier this year, ABC also acquired Aluminum Wholesale of Tri-Cities, Inc. in Johnsonville, Tenn., with locations in Abington, Morristown and Johnson City, Tenn.
ABC acquired B&F Supply Co. of Daytona Beach, Fla., earlier this year as well. B&F has been in the Daytona-area roofing supply market for 50 years. Daytona Beach is a new market for ABC Supply, although the company has 11 other Florida locations.
Tewa Moulding Sells to Valor Equity Partners
Tewa Moulding LLC of Albuquerque, N.M., a manufacturer of small-pattern, solid-pine wood mouldings, has been sold to Valor Equity Partners L.P. of Chicago. Prior to the transaction, Tewa was a portfolio company of Lynch Investment Co. of Dallas and Private Equity Partners Inc. of Fort Worth, Texas.
The terms of the transaction, which closed on July 9, 2004, were not disclosed. Prestwick Partners LLC of Minneapolis acted as the exclusive advisor to Tewa, Lynch Investment Co. and Private Equity Partners Inc.
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Republic Windows Makes Appearance on Reality TV
Chicago-based Republic Windows & Doors will be featured on “Family Time,” a reality TV series on Fox Network that aims at giving inspiring makeovers to deserving families and their homes, due to air this October. Republic is donating all of the needed windows for seven home makeovers across the country.
“We’re glad to be able to help give these families a new start,” said Amy Zimmerman, the company’s director of marketing. “It’s a lot of windows-the first home has 18 windows and there will be seven home makeovers in all.”According to a press release from Republic, shooting of the first episode has already begun in Chicago. The company, which already donates windows regularly to Habitat for Humanity, will have its Energy Star® qualified products featured on each show.
Millstone Industries Makes Its Move
Millstone Industries LLC, of Bend, Ore., announced its purchase of the former Ponderosa Mouldings building in Redmond, Ore., from Jeld-Wen.
According to company information, the new building’s size, double that of the current facility, will give Millstone Industries room to grow and create access to more of CentralOregon’s labor market.
“With the recent launch of Millstone Industries, we recognized the critical need for additional plant capacity to improve production flow and efficiencies of current operations and to enhance delivery schedules for our regional and national customers,” said Tom Pickell, president.
Arch Adds Amendments to Hardware Recommendations
Arch Treatment Technologies, headquartered in Smyrna, Ga., has announced amendments to its
hardware recommendations for Wolmanized Natural Select wood. Two amendments, involving interior uses of preserved lumber, are believed to be the first to address such uses for a next generation type of treated wood.
According to the company, builders are advised to use hot-dipped galvanized fasteners (meeting ASTM A 153) and connectors (ASTM A 653 Class G185 sheet or better) for protection against the effects of moisture often present where the wood is used. Amendments include exceptions to these recommendations, such as with permanent wood foundations made with Wolmanized Natural Select wood, where 304 or 316 stainless steel hardware should be used. In addition, the amendments say that aluminum should not be used in direct contact with the wood. For indoor applications, hot-dipped galvanization may not be necessary in certain instances.
“As testing and experience continues, other amendments may be added,” said Huck DeVenzio, marketing manager. “However, if contractors follow these recommendations and exceptions, we are confident that they will not experience hardware corrosion resulting from Wolmanized Natural Select wood.”
Lumbermens Partners with Habitat for Humanity
Lumbermens, of Olympia, Wash., recently announced a new Western States Region partnership with Habitat for Humanity. Under the partnership, Lumbermens stores in Washington, Oregon, Idaho, Arizona, and California will provide lumber and building materials for Habitat Homes within the Lumbermens marketing area. Gary Hardin, Lumbermens merchandise manager and sculptor of the deal said, “We recognize both the charitable and the volume-producing potential of Habitat for Humanity. This alliance means that we will have the opportunity to provide materials for 250 or more Habitat for Humanity homes in areas that we are privileged to serve.”
Maureen Howard, resource development manager for Washington State, has been instrumental in the development of this new partnership for the Habitat for Humanity program. In speaking to the Habitat affiliates in the five-state area, Howard stated, “We encourage all affiliates to consider this opportunity. Lumbermens is a valued regional partner through an existing program of grants to its affiliates.”
NFRC Announces Opportunity to Receive Cash Incentive
The National Fenestration Rating Council (NFRC) has reported that the diversified energy company Progress Energy Florida, based in Raleigh, N.C., has enhanced its residential construction program with the addition of high-performance windows. New home builders and multi-family developers who are enrolled in the company’s Home Advantage Program are eligible for cash incentives of $350 when they install high-performance windows in new homes built in the Progress Energy service area.
In order to qualify, windows must have a solar heat gain coefficient of no more than .50 and a U-value of no more than .75. In addition, the windows must make up at least 85 percent of the total glass area of the house and be certified by NFRC.
An Old Company Finds A New Name
MI Home Products Inc., of Gratz, Pa., has renamed itself MI Windows and Doors Inc.
“We’ve changed our name to better reflect our core business,” said Mike Jackson, president. “We’ve been making quality windows and doors for more than 20 years. That’s how we’re best known and that’s been our biggest success story.”
According to a company press release, the change is not unprecedented. From 1947 to 1997, the company was known as Metal Industries. Since its expansion into non-metal products, the business has grown most significantly through its window brands.
Receives Certification from NAHB
Chicago-based Republic Windows and Doors has announced its certification in the National Association of Home Builder’s (NAHB) National Housing Quality (NHQ) Certified Trade Contractor Program for its installation program, The Republic Difference. According to a company press release, certified trade contractors are shown to have reduced defects, elimination of recurring punch list items and improved builder satisfaction with the quality of their work.
“We’re excited to be the first window company east of the Rockies to receive this designation,” said Deborah Brougham, director of installation.
The company has also announced the launch of myRepublink.com, a direct link between dealers and Republic’s Oracle-based e-commerce system. The new web-based system offers dealers direct online order entry with tools that aim to make dealers more successful in business.
Through the website’sWindowShop, dealers are able to enter window orders and check order status, finding out exactly where a homeowner’s windows are in the manufacturing process or look at a particular window’s size, type and color. The website also offers dealers lead generation, reporting and accounting tools, marketing materials and promotional information.
Epoch™ Composite Products Purchases Plant in Virginia
Lamar, Mo.-based Epoch Composite Products Inc., producer of EverGrain® Decking and other composite products, recently announced the purchase of an approximately 580,000-square-foot manufacturing facility in Chilhowie, Va. The company says the purchase of the Smyth County facility, which will be Epoch’s third and largest plant, is another phase in its plan to ensure it meets customer need and consumer demand for EverGrain and other Epoch products in the future.
“This purchase is the first step in implementing our East Coast manufacturing and distribution strategy,” said Tim Whelan, Epoch’s executive vice-president. “We are currently constructing a 167,000-square-foot facility in Lamar, Mo., which will allow us to nearly double our existing capacity. The Chilhowie facility will supplement our Lamar operations and when the first phase of its expansion is completed in the latter part of 2005, we will have nearly five times our current production capacity.
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