Universal Forest Products acquires Northwest Painting
Move expands UFPI's capacity to produce value-added siding and trim.
Just days removed from announcing a new brand name, leadership changes and restructuring moves, Universal Forest Products, Inc. (UFPI) announced that it has acquired the operating assets of Northwest Painting, Inc.
Northwest Painting and its affiliates operate as Northwest Factory Finishes in Bonner, Mont. and as Pacific Northwest Factory Finishes in White City, Ore. Terms of the deal were not disclosed.
UFPI said the move will expand the company’s capacity to produce value-added siding and trim for customers in the Northwest and Mountain West regions.
Founded in 1992 in Missoula, Mont., by Britt Fred, Northwest Painting is a supplier of pre-painted building materials, including composite lap siding, soffit, panels and trim, to the Western U.S. The company has anticipated annual sales of about $14 million. Fred, owner and president of Northwest Painting, will remain with the company as president of Northwest.
“The addition of Northwest further expands our value-added product offerings and allows us to leverage their expertise to other Universal facilities that are involved in pre-finishing,” said CEO Matthew Missad. “We’re fortunate to have Britt and his team join the Universal family of companies. They have built Northwest into a fast-growing company and a respected leader in its markets.”
“We are excited about the many opportunities Universal Forest Products offers Northwest,” said Fred. “Universal’s size, strength and expertise will allow us to reach new markets, grow our business and provide employees with greater career opportunities. It is truly an extraordinary time to be at Northwest and part of the Universal family.”
On Aug. 12, UFPI said it would be rebranded as UFP Industries, Inc. in a move that is effective Jan. 1, 2020. The Grand Rapids, Mich.-based company also revealed that it was reorganizing itself around the markets it serves rather than geography. The changes are designed to drive sales and profits while providing employees with more opportunities.
While UFPI reported last month that second quarter sales fell 4%, the company saw profits rise 24% to $54.5 million for the period.
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