M&A Deal Summary

UFP Industries Acquires idX

On September 1, 2016, UFP Industries acquired building materials company idX from ACON Investments and Fifth Street Capital

Acquisition Highlights
  • This is UFP Industries’ 2nd transaction in the Building Materials sector.
  • This is UFP Industries’ 20th transaction in the United States.
  • This is UFP Industries’ 1st transaction in Michigan.

M&A Deal Summary

Date 2016-09-01
Target idX
Sector Building Materials
Buyer(s) UFP Industries
Sellers(s) ACON Investments
Fifth Street Capital
Deal Type Add-on Acquisition

Target

idX

Grand Rapids, Michigan, United States
idX is a privately held company that specializes in retail display fixture manufacturing, logistics and project management. With over 20 years of experience working in domestic and international markets. idX was founded in 1999 and is based in Grand Rapids, Missouri.

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Buyer(S) 1

Buyer

UFP Industries

Grand Rapids, Michigan, United States

Category Company
Founded 1955
Sector Forest Products
Employees15,800
Revenue 7.2B USD (2023)
DESCRIPTION
Universal Forest Products' corporate headquarters in Grand Rapids, Michigan.
Universal Forest Products' corporate headquarters in Grand Rapids, Michigan.

UFP Industries designs, manufactures, and markets wood and wood-alternative products for national home centers and other retailers, structural lumber and other products for the manufactured housing industry, engineered wood components for residential and commercial construction, specialty wood packaging, components and packing materials for various industries, and customized interior fixtures used in a variety of retail stores, commercial and other structures. UFP Industries was founded in 1955 and is based in Grand Rapids, Michigan.


DEAL STATS #
Overall 21 of 35
Sector (Building Materials) 2 of 4
Type (Add-on Acquisition) 17 of 31
State (Michigan) 1 of 4
Country (United States) 20 of 33
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-21 Idaho Western

Nampa, Idaho, United States

Idaho Western, Inc. is a distributor of products for building materials retailers and the manufactured housing and recreational vehicle industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-05 UBEECO Group Pty.

Erskine Park, Australia

UBEECO Group Pty. Ltd. is a manufacturer and distributor of wood packaging and alternative material products, including boxes, crates, pallets, skids, protection packaging, packaging accessories and loose lumber.

Buy -

Seller(S) 2

SELLER

ACON Investments

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

ACON Investments is an international private equity firm that targets investments in the US, Europe, and Latin America. ACON's investment strategy covers 'opportunities at times of change - responding at points of inflection where value creation is possible'. Examples include businesses that serve the rapidly growing US Hispanic population, energy and energy service needs, businesses in need of operational help, and opportunities in Latin America resulting from economic deregulation and political liberalization. ACON's looks for companies where it can commit $20 to $150 million of equity capital. Target sectors include consumer products and services, distribution, business services and industrial manufacturing. ACON Investments was formed in 1996 and has offices in Washington DC; Houston, Texas; Los Angeles, California; and Madrid, Spain.


DEAL STATS #
Overall 15 of 31
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 7 of 16
State (Michigan) 1 of 1
Country (United States) 9 of 21
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Funko

Everett, Washington, United States

Funko is a provider of branded pop culture products across multiple categories, including vinyl figures, board games, action toys, plush, apparel, houseware, and accessories for consumers who seek tangible ways to connect with their favorite pop culture brands and characters. Funko was founded in 2017 and is based in Everett, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-21 Dori Alimentos

Marilia, Brazil

Dori Alimentos is a manufacturer and distributor of snack and candy products. The company's snacks include peanuts, chocolates, gummies, hard and chewy candies, lollipops, among others. Its portfolio also includes brands known in the Brazilian market and synonymous with their categories, such as Dori, Pettiz, Gomets, Bolete, Yogurte 100, Chococandy, and Disqueti.Dori Alimentos was founded in 1967 and is based in Marilia, Brazil.

Buy -
SELLER
DESCRIPTION

Fifth Street Capital is a public investment firm focused on providing mezzanine financing to support expansions, acquisitions, recapitalizations, and management buyouts of middle-market US based companies. Fifth Street looks to invest between $5 and $50 million per transaction. Sectors of interest include consumer products, healthcare services, manufacturing, medical device manufacturing, food services, business services, restaurants, speciality retail, logistics, and value added distribution. Fifth Street Capital is based in White Plains, New York.


DEAL STATS #
Overall 37 of 59
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 18 of 27
State (Michigan) 2 of 2
Country (United States) 36 of 58
Year (2016) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-20 Phoenix Brands

Stamford, Connecticut, United States

Phoenix Brands LLC manufactures and distributes home care products including Niagara spray starch, Rit fabric dye, and Final Touch fabric conditioner, and a number of heavy-duty laundry detergent brands, including Fab, Dynamo, Ajax, Fresh Start, Arctic Power, ABC and Cold Power.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-22 WhatCounts

Atlanta, Georgia, United States

WhatCounts is web-based e-mail marketing through a software-as-a-service platform also offers SMS mobile marketing, broadcast voice messaging, database management, customer intelligence, and online lead generation services. WhatCounts was established in 2000 and is based in Atlanta, Georgia.

Sell -