Rugby Architectural Building Products, a portfolio company of Leading Ridge Capital Partners, has acquired F.W. Honerkamp Co., a distributor of architectural building products.
F.W. Honerkamp Co. distributes a full line of architectural wood products, decorative surfacing and cabinet hardware. The company was founded in 1871 and is based in New York (www.honerkamp.com).
The acquisition of F.W. Honerkamp Co. is Rugby’s tenth acquisition since 2010, through which the company has doubled its revenue and customer base and grown to 21 distribution centers across the country. “F.W. Honerkamp is an iconic franchise in one of the largest US markets for our products,” said David Hughes, Rugby President and CEO. “We are extremely excited to have the outstanding Honerkamp team become part of the Rugby organization.”
With the addition of Honerkamp’s Bronx, NY distribution center, Rugby will service the greater New York City metropolitan region from three locations situated in Northern New Jersey, Long Island and New York City. “New York City is the largest metropolitan area in the United States with a population base of 20 million,” said Drew Dickinson, Rugby COO. “Metro New York has a particularly high density of companies in the woodworking industry, and having such strong distribution in this market will allow us to provide the highest levels of service to our customers.”
Rugby Architectural Building Products is a full-line wholesale distributor of specialty building products. Its primary business is the wholesale distribution of non-structural architectural grade building products sold principally to customers who supply end-products for the commercial, industrial, retail, residential and institutional markets. The company’s product offerings include hardwood plywood, composite panel products, solid surface countertops, high-pressure laminate, doors and millwork, hardwood lumber, cabinet hardware, moldings, Rugby brand sinks and faucets, and industrial wood coatings. Value-added services include custom color matching, laminated panels, cut-to-size panels, edge-banding, custom hardwood molding, hardwood lumber ripping and facing, and interior and exterior door pre-hanging. The company serves over 17,000 customers in the largest metro centers in the U.S. with a geographic footprint covering 30 states from 21 distribution facilities around the country. Rugby Architectural Building Products is headquartered in Concord, NH (www.rugbyabp.com).
Leading Ridge Capital Partners is a private equity firm specializing in acquisitions, recapitalizations, and investments in lower-middle market distribution, logistics, and light manufacturing companies with revenues between $10 million and $100 million. Target companies will have an EBITDA from $1 million to $5 million and will be located, generally, in the Mid-Atlantic region of the US. The firm has offices in Rockville, MD and New York, NY (www.leadingridge.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-28-12