Rugby Architectural Building Products Acquires Lumber ProductsJune 29th, 2012 | Category: Industry News
Rugby Architectural Building Products, based in Concord, N.H., has acquired Lumber Products, an Oregon-based industrial building products and door distributor founded in 1938. According to the announcement, Rugby acquired substantially all of the assets of Lumber Products through its stalking horse bid under Section 363 of the U.S. Bankruptcy Code. Teams at former Lumber Products locations in Tualatin and Eugene, Ore., Kent and Spokane, Wash., Boise, Idaho, Salt Lake City and Albuquerque, N.M., have commenced operations as Rugby Architectural Building Products. The former Lumber Products’ Chandler, Ariz., distribution center will be consolidated with Rugby’s Phoenix operation.
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, according to the announcement.
“The acquisition of Lumber Products supports our strategy to diversify geographically, extending Rugby’s footprint into key western markets,” says 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,” adds 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,” says Leading Ridge partner Robert Mayn.
“This is a transformational transaction for our company and our industry,” adds 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.”