Industrial Opportunity Partners has acquired Moulure Alexandria Moulding. This acquisition represents IOP’s ninth platform investment for Industrial Opportunity Partners II, LP. IOP is buying the company in partnership with Andre Cholette, the company’s current President and CEO, and other members of the Alexandria management team. Dave Mackin, an IOP Operating Principal, will assume the position of Chairman.
Moulure Alexandria Moulding (Alexandria) is a manufacturer and distributor of wood mouldings and millwork products for the Canadian and Northern US residential housing markets. The company sells directly to retailers as well as to wholesale building product distributors and industrial customers. Alexandria is headquartered and has a manufacturing and distribution facility in Alexandria, ON. Two additional manufacturing operations are located in Bradford, ON and Moxee, WA; and two other distribution facilities are located in Wilkes Barre, PA and La Porte, IN (www.alexmo.com).
“Alexandria is a growing business with an excellent reputation for quality and customer service and strong relationships with both customers and suppliers,” said Ken Tallering, Senior Managing Director of IOP.
Industrial Opportunity Partners focuses on acquiring middle-market manufacturing and value-added distribution businesses, typically with revenues between $30 million and $350 million. The firm targets businesses with strong product, customer, and market positions and provides both management and operational resources to support sales growth and operational improvements. IOP was founded in 2005 and is headquartered in the Chicago suburb of Evanston (www.iopfund.com).
Toronto-based investment bank Osprey Capital Partners (www.ospreycapital.ca) was the financial advisor to the shareholders of Alexandria. Wells Fargo (www.wellsfargo.com) and Scotiabank (www.scotiabank.com) provided financing to support the transaction. McDermott, Will & Emery (www.mwe.com) provided legal representation to IOP.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-15-16