Demand for lumber throughout the retail, construction and industrial markets drove strong sales for Universal Forest Products Inc. last year.
Here is the MiBiz Growth Report for Dec. 12, 2016:
• M&A: Blue Wolf Capital Partners LLC, a New York-based private equity firm, has acquired the North American operations of New Zealand-based Tenon Limited. The company will be based in Grand Rapids and operate under a new name, Novo Building Products LLC. Novo is a manufacturer and distributor of speciality building products. Terms of the deal were not disclosed.
Universal Forest Products Inc. has purchased its second Australian firm.
Here is the MiBiz Growth Report for Sept. 19, 2016.
• M&A: Zeeland-based BiaCare Corp., a manufacturer of compression garments and bandages, was acquired by SIGVARIS Group, a Swiss maker of medical compression textiles. BiaCare was founded 12 years ago and employs 22 people in Zeeland, according to a statement. The company developed a range of compression products with velcro wraps to treat lymphedema, lipedema and chronic venous insufficiency. Terms of the deal were not disclosed. SIGVARIS pursued the acquisition as part of its international growth strategy for medically complex compression applications, calling BiaCare “a pioneering leader” in the segment. For BiaCare, the deal “significantly increases our ability to provide physicians and therapists the compression solutions they need,” according to President Keith Hoffman.
Universal Forest Products Inc. (Nasdaq: UFPI) today signed a definitive agreement to buy idX Corp. in a deal valued at about $68 million.
Robust construction and retail markets drove sales in Universal Forest Products Inc.’s second quarter.
Here is the MiBiz Growth Report for June 27, 2016.
• M&A: German company Kion Group AG, an industrial truck, material handling and logistics automation equipment manufacturer, plans to acquire Dematic Corp. for approximately $2.1 billion in what executives described as a “landmark” transaction. The deal values the logistics and automation firm, whose North American operations are based in Grand Rapids, at an enterprise value of $3.25 billion, according to a joint statement. Dematic generated $1.8 billion in revenues and $166 million in adjusted earnings before interest and taxes during the calendar year 2015. Kion Group will acquire Dematic from funds managed by New York City private equity firm AEA Investors LP and the Ontario Teachers Pension Plan. The deal, which is expected to close in the fourth quarter pending regulatory approval, also carves out “certain liabilities,” according to a statement.
Universal Forest Products Inc. expects to acquire Idaho Western Inc., a Nampa, Idaho-based distributor of building materials.
Universal Forest Products Inc. said today that it has agreed to acquire some assets of a Tampa, Fla.-based treated lumber manufacturer.
Bolstered by a mild winter and strong performance in its construction and retail markets, Universal Forest Products Inc. surpassed analysts’ expectations for earnings in its first quarter.