Cedar Creek acquires Denver distributor
Oklahoma City-based Cedar Creek entered into an agreement to purchase the assets of All-Coast Forest Products’ distribution location in Denver.
The agreement is expected to be finalized by June 6. All-Coast will continue to operate in Cloverdale, Calif.
D. Wayne Trousdale, Cedar Creek’s COO, commented, “We are very pleased to acquire an outstanding location and a great team of people in the growing Denver market. We plan to add several new product categories and offer a broad range of specialty and commodity wood products for lumberyards and the industrial customer.”
Cedar Creek – Denver will stock a variety of products, including cedar, siding, trim, EWP, hardwood plywood, boards, MDF, MDO, melamine, decking, and commodity lumber and panels.
Cedar Creek describes itself as “America’s fastest-growing wholesale building material distribution company.” It has 15 locations covering 24 states in the Mid-South, Midwest, Southeast and Rocky Mountain States. In May 2010, Cedar Creek was recapitalized by Boston-based Charlesbank Capital Partners, with the goal of providing flexible capital for the company to grow beyond its current trade areas.
American Woodmark swings to a profit
Winchester, Va.-based American Woodmark Corp. saw sales rise 26% in the fourth quarter, with double-digit gains in each of its sales channels.
Net sales for the quarter ended April 30 reached $171.1 million, as it swung to a profit of $5.2 million, compared with a fourth-quarter loss of $6.0 million in 2012.
The company manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Its products are sold on a national basis directly to home centers, major builders and through a network of independent distributors.
Boosted by new construction sales and an improving housing industry, net sales rose by 22% to $630.4 million during the company’s entire fiscal year 2013. The company generated net income for the entire fiscal year 2013 of $9.8 million, compared with a net loss in fiscal year 2012 of $20.8 million.
The company said its performance was favorably impacted by reductions in labor and overhead costs associated with its previous restructuring actions, by the beneficial impact of higher sales volume and the absence of the prior year’s inventory write-down. This favorability was partially offset by the impact of rising materials costs.
Shaped to beat high winds
What’s the secret to building a house to withstand hurricanes and high winds? Deltec Homes believes it has an answer: make them round.
Asheville, N.C.-based Deltec Homes makes prefabricated circular houses that have sustained their structure through several rigorous storms, including Hurricane Katrina and Hurricane Sandy. During its 45-year history, the company says it has have never lost a house to high winds.
"We understand what it takes to build a home in a severe wind environment," said Steve Linton, president of Deltec. "From design to construction to permitting, we are focused on the details of building the most durable home possible for the harshest weather."
The circular design and innovative engineering of the homes have sustained its structure through several rigorous storms including Hurricane Katrina and Hurricane Sandy. During their 45-year history, they have never lost a house to high winds, the company said.
The circular shape allow winds to flow around the house, dramatically reducing the air pressure on the exterior walls and roof and diminishing the risk of collapse or damage.
Also, the roof and floor trusses radiate from the center of the house, helping it remain intact by spreading the energy from the high winds throughout the structure instead of allowing it to build up in one area.
Deltec homes are prefabricated in a manufacturing facility in Asheville, N.C. The home is designed and built with panelized sections then shipped to the building site and assembled.
Construction cost for a Deltec home is between $125 and $200 per square foot of finished space, or approximately $250,000 to $400,000 total for a 2,000-square-foot home, not including the cost of the lot, according to the company.