Alexandria Moulding, a portfolio company of Industrial Opportunity Partners (IOP), has acquired the assets of House of Fara, a manufacturer of standard, decorative, and embossed hardwood mouldings.
IOP acquired Alexandria Moulding, a manufacturer and distributor of wood mouldings and millwork products for the Canadian and Northern US residential housing markets, in April 2016. 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 near Montreal 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 and House of Fara have had a partnership for over a decade and operate from adjacent facilities in LaPorte, IN (www.houseoffara.com). “We believe the acquisition of House of Fara will further strengthen Alexandria’s North American manufacturing capabilities and is a unique opportunity to combine two companies that have worked together for many years,” said Dave Mackin, Chairman of Alexandria and an Operating Principal of IOP.
IOP 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 is headquartered in the Chicago suburb of Evanston (www.iopfund.com).
“This acquisition solidifies our hardwood supply and product offering through our distribution facilities,” said Andre Cholette, Alexandria’s President and CEO. “House of Fara has an experienced, specialized team and is a cultural fit with our organization.”
© 2017 Private Equity Professional | December 6, 2017