Eldredge Lumber & Hardware acquires Selectwood
Specialty building products distributor Selectwood announced that it has been acquired by Eldredge Lumber & Hardware, Inc.
Based in Portsmouth, N.H., Selectwood has a 35-year history and provides exotic hardwood lumber, specialty windows and composite building materials for high-end residential and commercial building projects.
The supplier operates out of a 70,000-square-foot facility in Portsmouth, while serving custom home builders and remodelers from Boston to Portland, Maine. Selectwood has a reputation as a premier stocking distributor of high-grade cedar, mahogany, ipe, redwood, and Douglas fir as well as high-end composite building materials and hardware.
“A strong customer base, unique specialty lumber expertise and an experienced team focused on customer relationships make Selectwood an ideal addition to our family of companies,” said Dan Remick, general manager of Eldredge Lumber. “By adding a specialty lumber market leader in Selectwood, we’re gaining unique expertise and expanding our reach and customer base in the coastal New England market.”
Eldredge Lumber & Hardware is headquartered in York, Maine and operates a number of banners in the state. In addition to Eldredge Lumber, the company’s banners include Atlantic Design Center, Kittery Ace Hardware, Eldredge Kitchen & Bath, Marvin Design Center, and Eldredge Bros. Fly Shop with a focus on fishing gear and accessories.
A third-generation dealer, Eldredge has grown into a regional leader for suppling building materials and home supplies. The company offers a comprehensive portfolio of building and hardware products, including windows, doors, millwork, wallboard, roofing, siding, engineered components, cabinetry and hardware,
The transaction was lead by Peloton Advisory LLC who proactively identified a strategic partner that would value the market position, support knowledgeable, long-term employees and bring added resources and products to Selectwood’s professional contractor customer base while allowing the founders to exit the business.
Financial terms of the deal were not disclosed.