Masonite Completes Acquisition of Lifetime Doors Inc.October 12th, 2010 | Category: Industry News
Masonite Inc. has acquired substantially all of the assets of Lifetime Doors Inc., headquartered in Farmington Hills, Mich. The financial details of the acquisition have not been disclosed.
Lifetime is an interior flush door manufacturer specializing in molded, veneer, prefinished and bifold doors. The company was founded in 1947 in Livonia, Mich., by William Gilbert.
“Lifetime is a natural fit for Masonite. Lifetime’s geographic coverage, along with strong customer relationships, will complement Masonite’s operations and create exciting new opportunities for our customers, employees, and suppliers and enable Masonite to continue delivering on its strategic growth initiatives,” says Larry Repar, Masonite’s executive vice president and chief operating officer.
“We are excited to join the Masonite team,” says John Hauss, Lifetime’s president. “Masonite’s business provides customers with innovative products and industry leadership on a worldwide scale. We look forward to partnering with Masonite to serve our current and future customers and to achieve our long-term business goals.”
Hauss, a 20-plus year veteran of the molded door industry, will remain with Masonite in a senior advisory role. Key members of Lifetime’s sales organization will also join Masonite, adding additional capabilities to Masonite as the company continues delivering on its strategic growth initiatives, the company says.
This acquisition is the fifth transaction executed by Masonite this year. In March Masonite acquired Ledco Inc., an interior door manufacturer in the United States. In June and July Masonite closed three additional transactions.