While growing and shutting down is all the rage among dealers, buying and selling companies is this season’s major trend among manufacturers. Among the deals:
Solarsoft Business Systems, a British enterprise software and IT service provider, acquired Progressive Solutions (PSI), the Vancouver, Canada-based provider of software to dealers and mills. “We believe that the combination with Solarsoft will provide fresh momentum to the ongoing development of PSI’s products and services for the benefit of customers, suppliers and employees,” said Len Williams, PSI’s founder and CEO.
Jeld-Wen intends to buy CraftMaster Manufacturing, a maker of doors, trim, and panels. The deal will keep the CraftMaster brand and management team intact.
A subsidiary of Universal Forest Products bought some of the assets of MSR Forest Products, a Haleyville, Ala.-based regional roof truss and lumber supplier.
Arauco agreed to purchase Flakeboard, a North American manufacturer of panel products.
Building Material Distributors acquired Master Fasteners International and Fasten Source and will merge the brands under the Master Fasteners International name.
Osmose Holdings was purchased by Oaktree Capital Management.
What’s driving these sales? Hard times could be one reason. Recent earnings reports from publicly traded companies suggest that a lot of vendors still are operating in the red. Among them are BlueLinx, American Woodmark, Interfor, and Louisiana-Pacific.
But other vendors appear to be moving back into the black, earnings reports suggest. Among them are Ply Gem, Trex, and Eagle Materials’ wallboard and paperboard division. Conditions remained unsettled at Ainsworth and Western Forest Products but were more robust at Masonite and Georgia Gulf.