PSPI has offered prefinished LP SmartSide and siding for several years. The company was founded in 1999 and operates in a 40,000-square-foot facility 10 miles northwest of Green Bay.
“This acquisition will help us continue to grow our Siding business and increase market penetration in the segments we serve,” said Neil Sherman, LP executive vice president for Siding. “This is an important part of our strategy as we transform into a leading building solutions provider.”
Sherman said LP will continue to utilize its existing prefinished providers and partner to “help grow their business” in addition to growing the LP SmartSide brand. LP said acquiring PSPI provides the manufacturer with facilities, capabilities, and expertise to enter the market and drive growth in its siding business. PSPI will operate as part of LP’s Siding business after the closure of the transaction.
The acquisition furthers Nashville, Tenn.-based LP’s business strategy to provide building solutions.