M&A Deal Summary

UFP Industries Acquires Ultra

On December 27, 2021, UFP Industries acquired building materials company Ultra from Private Equity Capital and Argosy Private Equity for 25M USD

Acquisition Highlights
  • This is UFP Industries’ 4th transaction in the Building Materials sector.
  • This is UFP Industries’ 2nd largest (disclosed) transaction.
  • This is UFP Industries’ 32nd transaction in the United States.
  • This is UFP Industries’ 4th transaction in Michigan.

M&A Deal Summary

Date 2021-12-27
Target Ultra
Sector Building Materials
Buyer(s) UFP Industries
Sellers(s) Private Equity Capital
Argosy Private Equity
Deal Type Add-on Acquisition
Deal Value 25M USD

Target

Ultra

Howell, Michigan, United States
Ultra is a manufacturer of ornamental aluminum fencing, pool fences, custom gates, and accessories. Ultra was founded in 1996 and is based in Howell, Michigan.

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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 34 of 35
Sector (Building Materials) 4 of 4
Type (Add-on Acquisition) 30 of 31
State (Michigan) 4 of 4
Country (United States) 32 of 33
Year (2021) 5 of 5
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 Advantage Label & Packaging

Grand Rapids, Michigan, United States

Advantage Label & Packaging provides blank and customized labels, printers, label applicators, and other packaging supplies. Key industries served by the company include beer and beverage, body armor, food production and processing, greenhouse and nursery, hobby and craft, manufacturing, and automotive. Advantage Label & Packaging is based in Grand Rapids, Michigan.

Buy $16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 Cedar Poly

Tipton, Iowa, United States

Cedar Poly is a full-service recycler of high-density and low-density polyethylene (HDPE and LDPE) flakes and pellets used in various products, including composite decking. Cedar Poly was founded in 2007 and is based in Tipton, Iowa.

Buy $17M

Seller(S) 2

SELLER

Private Equity Capital

Westport, Connecticut, United States

Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Private Equity Capital Corporation (PECC) is a private equity firm focused on acquiring privately owned businesses and subsidiaries or divisions of public companies. PECC pursues US-based companies with revenues between $20 and $200 million and at least $2 million of EBIT. Prospective companies generally lead their respective markets and have management willing to stay post acquisition. Sectors of interest include information technology, consumer products, financial services, business process outsourcing, healthcare, information services and publishing. PECC was formed in 1998 and is based in Westport, Connecticut.


DEAL STATS #
Overall 14 of 14
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 5 of 5
State (Michigan) 1 of 1
Country (United States) 14 of 14
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-19 Professional Pediatric Home Care

Englewood, Colorado, United States

Professional Pediatric Home Care, Inc. is a provider of home care services and therapy to medically fragile children and their families in Colorado. In addition, PPHC provides clinic and home-based pediatric therapy through its affiliate Reach Pediatric Therapy in Texas.

Sell -
SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 48 of 53
Sector (Building Materials) 6 of 6
Type (Add-on Acquisition) 34 of 38
State (Michigan) 3 of 3
Country (United States) 48 of 53
Year (2021) 9 of 9
Size (of disclosed) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 HB&G

Troy, Alabama, United States

HB&G is a designer and manufacturer of synthetic and wood specialty millwork, consisting primarily of exterior and interior columns, as well as exterior posts, railings, and ceilings for porch and deck applications. HB&G was founded in 1880 and is based in Troy, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Global Power Products

Lawrenceville, Georgia, United States

Global Power Products focused on developing products in the utility-grade electrical transfer switch, electric meter, and electric safety markets. GPP's switches allow for an effortless installation as compared to conventional switches. Global Power Products was formed in 1995 and is based in Lawrenceville, Georgia.

Buy -