M&A Deal Summary

Masonite International Acquires Algoma Hardwoods

On April 23, 2012, Masonite International acquired manufacturer Algoma Hardwoods from Industrial Opportunity Partners and American Capital

Acquisition Highlights
  • This is Masonite International’s 1st transaction in the Manufacturing sector.
  • This is Masonite International’s 5th transaction in the United States.
  • This is Masonite International’s 3rd transaction in Wisconsin.

M&A Deal Summary

Date 2012-04-23
Target Algoma Hardwoods
Sector Manufacturing
Buyer(s) Masonite International
Sellers(s) Industrial Opportunity Partners
American Capital
Deal Type Add-on Acquisition
Advisor(s) FINNEA Group (Financial)
McDermott Will & Emery (Legal)

Target

Algoma Hardwoods

Algoma, Wisconsin, United States
Algoma Hardwoods is a leading manufacturer of architectural wood doors for commercial construction, with primary usage in new construction and remodeling of office buildings, medical buildings, stadiums and high-rise condos. The company is headquartered in Algoma, WI and has a second manufacturing facility in Jefferson City, TN.

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Buyer(S) 1

Buyer

Masonite International

Tampa, Florida, United States

Category Company
Founded 1925
Sector Building Materials
Employees10,300
Revenue 2.9B USD (2022)
DESCRIPTION
Masonite International's corporate headquarters in Tampa, Florida.
Masonite International's corporate headquarters in Tampa, Florida.

Masonite International is a designer and manufacturer of interior and exterior doors for residential construction, residential repair, renovation, and remodeling and the non-residential building construction markets. Masonite International was founded in 1925 and is based in Tampa, Florida.


DEAL STATS #
Overall 6 of 17
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 5 of 15
State (Wisconsin) 3 of 3
Country (United States) 5 of 10
Year (2012) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-26 Baillargeon Doors

Saint-Éphrem-de-Beauce, Quebec, Canada

Baillargeon Doors, Inc. is a manufacturer of wood flush doors for architectural applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 Lemieux Doors

Windsor, Quebec, Canada

Lemieux Doors, Inc. is a wood door manufacturer.

Buy -

Seller(S) 2

SELLER

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.


DEAL STATS #
Overall 2 of 22
Sector (Manufacturing) 1 of 3
Type (Add-on Acquisition) 2 of 14
State (Wisconsin) 1 of 5
Country (United States) 2 of 20
Year (2012) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-27 FAS Controls

Shelby, North Carolina, United States

FAS Controls is a manufacturer of pressure switches, valves, circuit breakers, mechanical switches, coils and solenoids. These custom-designed and application specific products are primarily sold to original equipment manufacturers of heavy trucks, automobiles and commercial equipment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-29 Aarrowcast

Shawano, Wisconsin, United States

Aarrowcast is a provider of ductile, gray, and austempered ductile iron castings that specializes in large, complex castings utilizing sophisticated metallurgy. The Company’s products are sold to global original equipment manufacturers in the agriculture, off-highway heavy truck, military, and construction industries. Aarrowcast was formed in 1978 and is based in Shawano, Wisconsin.

Buy -
SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 139 of 194
Sector (Manufacturing) 11 of 16
Type (Add-on Acquisition) 64 of 87
State (Wisconsin) 3 of 7
Country (United States) 136 of 186
Year (2012) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-07 AmWINS

Charlotte, North Carolina, United States

AmWINS is a distributor of insurance products, provides property and casualty products, group insurance programs, and administrative services to retail insurance agents. It provides brokerage services in the areas of property, casualty, financial risk, auto, construction, environmental, healthcare, life sciences, and public entity. AmWINS was founded in 1998 and is based in Charlotte, North Carolina.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-07 CAMP Systems International

Ronkonkoma, New York, United States

CAMP Systems International, Inc. is a provider of software-as-a-service (“SaaS”) solutions for managing and tracking the maintenance of jets, turbo prop aircraft and helicopters used in business aviation, as well as enterprise information systems used to manage service centers.

Sell -