– Expands capacity and opens doors to strong Charlotte, N.C., market –
GRAND RAPIDS, Mich., Wednesday, April 2, 2014 – Universal Forest Products, Inc. (NASDAQ: UFPI) today announced that one of its subsidiaries has purchased certain assets of High Level Components, LLC, a building component manufacturer based in Locust, N.C. The transaction closed on March 31, 2014.
High Level will join Universal's UFP Mid-Atlantic subsidiary, a component manufacturer with locations in South Carolina, Virginia, Georgia and North Carolina. The acquisition will expand Universal's capacity in the region and allow the company to serve customers in the Charlotte, N.C., market, where it currently doesn't have a significant presence.
"As we have assessed opportunities for growth and a stable business climate, the greater Charlotte market has been an attractive target, and the capabilities, assets and opportunities presented by High Level Components provide a strong fit for our needs and objectives," said Universal Forest Products CEO Matthew J. Missad.
"The great people of High Level will be a welcome addition to our team," Missad added. "We look forward to enhancing their position as a manufacturer of choice in their market, and to serving existing and future customers with the quality and reliability they've grown to expect from us."
High Level Components Plant Manager Corey Misenheimer will lead the new company as General Manager of Operations.