Rugby Adds Lumber Products Locations
Rugby Architectural Building Products, a New Hampshire-based distributor of architectural wood products and decorative surfacing, is expanding with the addition of Lumber Products, an Oregon-based distributor of doors and industrial building products. A portfolio company of Leading Ridge Capital Partners, Rugby acquired substantially all of the assets of Lumber Products through a stalking horse bid under the U.S. bankruptcy code, it reports.
Lumber Products had filed for chapter 11 protection in April of this year. With the acquisition, teams at former Lumber Products locations in Tualatin and Eugene, Ore.; Kent and Spokane, Wash.; Boise, Idaho; Salt Lake City, Utah; and Albuquerque, N.M., have commenced operations as Rugby Architectural Building Products. A former Lumber Products' Chandler, Ariz., distribution center will be consolidated with Rugby's Phoenix operation into a new metro center.
"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."
With the addition of the Lumber Products facilities, Rugby now has a geographic footprint covering 30 states from 20 distribution facilities. The company's product offerings include hardwood plywood, composite panel products, solid surface countertops, high-pressure laminates, hardwood lumber, cabinet doors and hardware, laminated panels, mouldings, Rugby brand sinks and faucets, and industrial wood coatings. With the addition of Lumber Products, it is expanding its product offerings to include interior and exterior doors. The Oregon-based company had prehanging operations offerinng Masonite, Simpson and other door products.
"Rugby will continue to grow organically and through acquisition, targeting both consolidation and market expansion opportunities," says Robert Mayn, a partner at Leading Ridge.
"This is a transformational transaction for our company and our industry," adds Zach Coopersmith, another partner at thethe private equity firm. "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."