Rugby Architectural Building Products Closes Transformational Acquisition with Purchase of Lumber Products
CONCORD, N.H., June 27, 2012 /PRNewswire-iReach/ — Rugby Architectural Building Products, America’s leading distributor of architectural wood products, decorative surfacing, doors, and millwork, announces its acquisition of Lumber Products, an Oregon-based industrial building products and door distributor founded in 1938. A portfolio company of Leading Ridge Capital Partners, Rugby acquired substantially all of the assets of Lumber Products through its stalking horse bid under Section 363 of the US Bankruptcy Code. Teams at former Lumber Products locations in Tualatin and Eugene, OR, Kent and Spokane, WA, Boise, ID, Salt Lake City, UT and Albuquerque, NM have commenced operations as Rugby Architectural Building Products. The former Lumber Products’ Chandler, AZ distribution center will be consolidated with Rugby’s Phoenix operation into a new metro center.
This expansion marks Rugby’s ninth acquisition since 2010, through which the company has more than doubled its revenue base and grown to 20 distribution centers across the country. “The acquisition of Lumber Products supports our strategy to diversify geographically, extending Rugby’s footprint into key western markets,” commented David Hughes, Rugby President and CEO. “Furthermore, the transaction enhances our product offerings in our core industrial base of products, as well as increases our value-added components and service offerings targeted at the commercial and residential construction sector.”
“What excites us most about the Lumber Products acquisition is their people – strong teams of loyal industry veterans at every single facility who understand that the customer always comes first,” added Drew Dickinson, Rugby COO. “Our combined businesses provide further scale and resources to the Rugby platform, enabling us to continue expanding and deepening the relationships with our valued customer and supplier bases.”
“Rugby will continue to grow organically and through acquisition, targeting both consolidation and market expansion opportunities,” explained Leading Ridge Partner Robert Mayn. “This is a transformational transaction for our company and our industry,” continued Leading Ridge Partner Zach Coopersmith. “In this difficult operating climate, Rugby’s size, scale, geographic diversification, strong product mix, and decentralized operating structure will help ensure our company’s continued growth, benefiting all customers, suppliers, and employees.”
About Rugby Architectural Building Products:
Rugby Architectural Building Products (www.rugbyabp.com) is a full-line wholesale distributor of specialty building products. Its primary business is the wholesale distribution of non-structural architectural grade building products sold principally to customers who supply end-products for the commercial, industrial, retail, residential and institutional markets. The company’s key product offerings include hardwood plywood, composite panel products, solid surface countertops, high-pressure laminate, doors, millwork, hardwood lumber, cabinet hardware, laminated panels, mouldings, Rugby brand sinks and faucets, and industrial wood coatings. Headquartered in Concord, NH, the company serves over 15,000 customers in the largest metro centers in the U.S. with a geographic footprint covering 30 states from 20 distribution facilities servicing markets in Metro Boston, Moonachie, NJ, Deer Park, NY, Atlanta, GA, Tampa, FL, Indianapolis, IN, Dallas, TX, Houston, TX, San Antonio, TX, Phoenix, AZ, Las Vegas, NV, Reno, NV, Los Angeles, CA, Portland, OR, Eugene, OR, Seattle, WA, Spokane, WA, Boise, ID, Salt Lake City, UT, and Albuquerque, NM.
About Leading Ridge Capital Partners:
Leading Ridge Capital Partners, LLC (www.leadingridge.com) is a private equity firm, with offices in Maryland and New York, specializing in acquisitions, recapitalizations, and investments in value-added distribution, logistics, and light manufacturing companies in the lower-middle market. Leading Ridge is comprised of a successful team of operators with a broad array of business experience within the distribution and manufacturing sectors. The team possesses significant operational resources and the leadership experience needed to support rapid yet controlled growth of its portfolio companies.
Media Contact: Zach Coopersmith Leading Ridge Capital Partners, 212.300.3691, firstname.lastname@example.org
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SOURCE Leading Ridge Capital Partners