M-D Building Products Acquires Loxcreen CompanyJanuary 4th, 2013 | Category: Industry News
Oklahoma City-based M-D Building Products Inc. has acquired the assets of West Columbia, South Carolina based Loxcreen Co. Inc. Terms of the sale were not disclosed.
The two privately held companies, with approximately 800employees at nine manufacturing and distribution facilities in the United States and Canada, specialize in customized aluminum and plastic extrusion manufacturing in connection with producing and marketing a variety of window, flooring, door and tool products and accessories used in commercial and residential construction and renovation.
“The Loxcreen acquisition and its related manufacturing, engineering and products presents a unique opportunity for us to bring two complementary and compatible businesses with strong market presence together to drive long-term growth,” says Loren Plotkin, chairman and president of M-D Building Products. “For many years, we have admired Loxcreen as a quality competitor with a strong line of well-engineered and manufactured building products. We know them well and realized early in the due diligence process that the combined companies would be synergistically stronger with greater opportunities given our ability to increase our vertical manufacturing capabilities and expand product lines to meet our customers’ evolving needs.”
Loxcreen’s chief executive officer, Wayne Parrish, says while other companies have approached him throughout the years he pursued this opportunity due to shared “histories, products and core values.”
“While our emotions are mixed with selling the business after a successful 65 years of operation, we recognize the acquisition by M-D Building Products offers expanded opportunities long-term for our employees and customers,” he says. “M-D Building Products has a rich history of engineering and manufacturing expertise and producing market-leading products, particularly in the weatherization category. The company is a superbly run operation, and they always have been a tough, but fair, competitor. In M-D Building Products, we have found a fine home for our business where it will live on and flourish for decades to come.”
In addition to operations in Canada, Loxcreen also operates manufacturing and distribution facilities in Georgia, Oregon, Texas, Ohio, Missouri and South Carolina. M-D Building Products operates manufacturing and distribution facilities in Oklahoma and Georgia.
Joe Comitale, president of Loxcreen Canada and chief operating office of the Loxcreen Company, will continue in his role as president of Loxcreen Canada and will join M-D Building Products as executive vice president.
The combined sales of both companies will exceed $200 million annually.