U.S. Lumber to acquire Alexandria Moulding
U.S. Lumber,Alexandria Moulding,to acquire
U.S. Lumber Group, LLC and Alexandria Moulding recently that they have signed an agreement under which U.S. Lumber will acquire Alexandria Moulding.
U.S. Lumber, based in Atlanta, United States (U.S.), is a leading two‐step distributor of specialty building products in the Eastern and Midwestern U.S. Alexandria Moulding, headquartered in Alexandria, Ontario, Canada, is a leading manufacturer and two‐step distributor of a full range of mouldings and accessories across all of Canada and the northern U.S. The combination will create a company with a broader geographic presence as well as enhanced product and service capabilities.
“We are thrilled to be partnering with the Alexandria Moulding team as we continue to grow our business. Alexandria Moulding brings to the U.S. Lumber family the very highest level of expertise and capabilities in mouldings, along with a 75‐year history of exceptional customer service through its distribution arm,” U.S. Lumber president and CEO, Jeff McLendon, said. “This acquisition advances our growth strategy by expanding our geographic presence and product mix, and adds an exciting new set of capabilities to our company. We’re particularly pleased that combining these complementary businesses will enhance the value proposition we collectively offer our trading partners.”
“We are very excited to be partnering with U.S. Lumber as the next stage of Alexandria Moulding’s growth. U.S. Lumber has earned a great reputation in the marketplace and its commitment to values like honesty and integrity is a perfect match for Alexandria Moulding’s strong culture,” Andre Cholette, Alexandria Moulding president, added. “Becoming a part of U.S. Lumber will allow us to enhance our product and service offerings as we continue to provide growth opportunities for our customers, suppliers and employees.”
Upon completion of the acquisition, Alexandria Moulding will continue to be led by its existing management team from its current headquarters in Alexandria, and will continue to provide all the exceptional products and services that Alexandria Moulding customers have come to expect under its existing brand name. Cholette will be joining the U.S. Lumber Board of Directors.
Financial terms of the transaction were not disclosed. The companies expect to complete the transaction by early October 2018, subject to the satisfaction of customary closing conditions.