Universal Forest Products Inc. (UFPI) has acquired the assets of Northwest Painting, according to a news release. The supplier operates as Northwest Factory Finishes in Bonner, Mont., and as Pacific Northwest Factory Finishes in White City, Ore. UFPI said the acquisition will enhance its capacity to produce value-added siding and trim for its customer base in the Northwest and Mountain regions.
“The addition of Northwest further expands our value-added product offerings and allows us to leverage their expertise to other Universal facilities that are involved in pre-finishing,” UFPI CEO Matthew J. Missad said in a public statement. “We’re fortunate to have Britt Fred and his team join the Universal family of companies. They have built Northwest into a fast-growing company and a respected leader in its markets.”
Northwest Painting is a supplier of prepainted building materials, including composite lap siding, soffit, panels and trim. The company, with its two manufacturing facilities in Bonner and White City, expects to generate annual sales of $14 million. Owner and president Britt Fred will remain as president after the closing of the deal.
“We are excited about the many opportunities Universal Forest Products offers Northwest,” Fred said. “Universal’s size, strength and expertise will allow us to reach new markets, grow our business and provide employees with greater career opportunities. It is truly an extraordinary time to be at Northwest and part of the Universal family.”
The acquisition comes days after UFPI announced it would rebrand as UFP Industries effective January 1, 2020. Grand Rapids, Mich-based UFPI plans to reorganize itself around the markets it serves rather than geography. The company believes the move will allow a more specialized and consistent sales approach, a more efficient use of resources, and a quicker introduction of new products and services.
