On the acquisition front in the manufactured housing industry, Universal Forest Products, Inc. (NASDAQ: UFPI) has announced two acquisitions.
Through one of its affiliates, UPFI has closed on the purchase of certain assets of Quality Hardwood Sales.
Based in Nappanee, Indiana, Quality Hardwood Sales is a manufacturer and supplier of hardwood products, including components for cabinets used in homes and recreational vehicles.
According to Street Insider, the acquisition is UPFI’s first operation devoted to hardwood products, and will expand the company’s portfolio while providing Quality Hardwood with additional markets for its products and the opportunity to grow its customer base and product offering.
“Quality Hardwood has exceptional manufacturing expertise, a strong management team that’s staying on, and products that are known in the industry for their superiority,” said Universal CEO Matthew J. Missad.
“In addition, its leaders share our devotion to lasting customer relationships and to diversification and growth, and will be a great addition to the Universal family of companies.”
Founded in 2001, Quality Hardwood had net sales of approximately $30 million in 2016. Current management team will remain with the company.
UPFI has also announced that it has closed on the purchase of a previously announced acquisition, Robbins Manufacturing Co.
Based in Tampa, Florida, Robbins manufacturers treated wood products with facilities in Florida, Georgia and North Carolina.
Founded in 1938, the company has two divisions, including Robbins Treating and Manufacturing, which operates six wood treating facilities, including an operation in Tarrytown, Florida, which it will continue to operate. The remaining five operations are included in the acquisition, with net sales of $86 million in 2016.
Headquartered in Grand Rapids, Mich., UFPI is a component supplier to the MH and RV industries.
As Daily Business News readers are already aware, UFPI is also one of the industry stocks monitored each business day. For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##
(Image credits are as shown above.)
Submitted by RC Williams to the Daily Business News for MHProNews.
