GRAND RAPIDS — An active stretch of acquisitions for Grand Rapids-based wood products manufacturer UFP Industries Inc. continued this week as the company announced it has acquired three new businesses.
UFP Construction LLC, an affiliate of UFP Industries that serves the construction market, acquired the assets of New Hampshire-based companies Atlantic Prefab Inc., Exterior Designs LLC and Patriot Building Systems LLC.
The trio of companies combine to serve both the commercial and multi-family construction markets in the northeast U.S. UFP Industries says the three companies combined for $28 million in sales over the last 12-month period that ended in September.
“The employees of these three companies have done an excellent job growing their businesses, creating long-term relationships with customers, and developing expertise in areas of commercial and multi-family construction that are mostly new to UFP Industries,” UFP Construction Executive Vice President Mike Ellerbrook said in a statement. “They will help us expand our product offerings and give other UFP companies opportunities to extend their existing business lines into new markets.
Wilton, N.H.-based Atlantic Prefab produces prefabricated steel wall panels and light gauge metal trusses, which would signify a new, value-added product to UFP Construction.
Both Exterior Designs and Patriot Building Systems operate from Londonderry, N.H. Exterior Designs specializes in installing siding and exterior cladding while Patriot Building Systems offers framing services for multi-family and commercial construction projects.
“Last year, we reorganized our operations to bring more focus and more efficient use of capital and resources to the markets we serve,” UFP Industries CEO Matthew J. Missad said in a statement. “The acquisition of these three complementary companies is an example of how our reorganization is helping us grow and bring more value-added products and services to our construction customers. These companies have outstanding reputations, and we’re excited that they’ve joined the UFP family of companies.”
The recent acquisitions are the latest in a string of moves for UFP Industries. In July, UFP’s industrial affiliate acquired California manufacturer T&R Lumber Co. and its affiliates.
In October, UFP Retail Solutions acquired Matthew, N.C.-based Fire Retardant Chemical Technologies LLC, which specializes in developing and testing high-performance chemicals for wood preservation.
UFP Industries established a foothold in Europe earlier this month with an equity investment in Italian industrial packaging firm Enwrap Logistic & Packaging S.r.l.
UFP Industries recently announced its best earnings report in company history for the quarter ending Sept. 26, which included $1.49 billion in sales — a 28 percent increase from the same time last year.
While retail has boomed, construction has also held steady. The report showed that UFP Construction completed $447.1 million in net sales for the quarter, which was up 0.4 percent from last year.