U.S. Lumber acquires Midwest Lumber
Midwest Lumber's business area extends to Iowa, Wisconsin, North Dakota and portions of South Dakota, Nebraska and Illinois.
Atlanta-based U.S. Lumber Group, the two-step building materials distributor in the Eastern United States, has acquired Midwest Lumber based in Stillwater, Minn., HBSDealer has learned.
Midwest is a full-service distributor serving the upper Midwestern states. The single-unit distributor’s business area extends to Iowa, Wisconsin, North Dakota and portions of South Dakota, Nebraska and Illinois. The company operates out of a 20-acre distribution center with 140,000 square feet of inside storage and an accompanying blacktop yard.
“We are thrilled to be adding Midwest Lumber to the U.S. Lumber family. The Charpentier family and the Midwest Lumber team have built a fantastic business with a well-earned reputation for providing the highest level of service to both their customers and suppliers,” said U.S. Lumber President and CEO Jeff McLendon said. “
According to McLendon, the Midwest Lumber acquisition advances U.S. Lumber’s growth strategy by expanding its geographic presence and product mix. “We’re particularly pleased that combining these complementary businesses will enhance the value proposition we offer our trading partners.”
Midwest Lumber Vice President of Sales Dave Charpentier added: ” We are extremely excited to be joining forces with U.S. Lumber. Our teams share very similar cultures and core values based on honesty, integrity, and best-in-class service to our customers. Becoming a part of U.S. Lumber will enhance our ability to provide growth opportunities for our employees, customers, and suppliers.”
Upon completion of the acquisition, Midwest Lumber will operate under its existing brand name as a division of U.S. Lumber and will be led Charpentier. Financial terms of the transaction were not disclosed. The companies expect to complete the transaction by early June.
Last September U.S. Lumber purchased NILCO, a 12-unit distributor based in Hartville, Ohio with a strong Midwest presence. In 2016, U.S. Lumber merged with Boston Cedar, expanding its presence in the Northeast.
Madison Dearborn Partners, a Chicago-based private equity firm, made an investment U.S. Lumber in March 2017. The investment was specifically designated for “strategic growth.”
U.S. Lumber has annual revenue of more than $800 million and operates locations in 27 states.
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