– Industrial/manufactured housing operation expands company’s territory and capabilities –
GRAND RAPIDS, Mich., February 4, 2015 – Universal Forest Products, Inc. (NASDAQ: UFPI) today announced that one of its subsidiaries recently closed on the acquisition of certain assets of Caldwell, Idaho-based Rapid Wood Mfg., LLC, a supplier of lumber products to the region’s manufactured housing and recreational vehicle industries. With this purchase, the companies of Universal establish a foothold in the healthy Idaho market, opening doors to opportunity for expansion and growth in new territory, and allowing the Company to better serve existing customers in the region. Universal’s affiliates currently serve the market on a limited basis from their Oregon manufacturing facilities.
Rapid Wood Manufacturing supplies lumber products to manufactured housing and RV customers. Its expected 2015 sales are approximately $4 million. The principal of Rapid Wood, Bob Brizendine, will stay on in a management role.
“This is a good opportunity to establish a manufacturing and sales presence in Idaho, bringing us closer to some of our valued customers and expanding the strong capabilities of our organization in a growing market,” said Universal CEO Matthew J. Missad.
“Rapid Wood is a strong company that has served its customers well,” he added. “We look forward to growing their customer base and our offerings in the region, to enhancing our service to existing UFP customers, and to working with the people of Rapid Wood, who have grown a company we are proud to welcome to the Universal family.”
Brizendine said, “We are excited to be joining the companies of Universal Forest Products and becoming a part of a firm that’s respected in its industries. It’s an honor and a great opportunity for our company and our people, and it marks an exciting new chapter for Rapid Wood.”