GRAND RAPIDS TWP. – Global manufacturer of wood products UFP Industries Inc. closed a hectic calendar year with deals this week and announced another acquisition at the end of 2021.
The Grand Rapids Township-based manufacturer, which operates residential, commercial and industrial segments of its business, announced the purchase Ultra Aluminum Manufacturing Inc., a Howell-based company that makes aluminum fences, gates and railings.
The transaction is the ninth acquisition this year for UFP (Nasdaq: UFPI), whose management has announced that it will continue to expand the business through M&A activities. Last week, UFP announced the acquisition of an industrial packaging company in the greater Grand Rapids area.
UFP bought Ultra for $ 25 million, including $ 2 million in incentives to help meet specific performance goals.
UFP Industries made the purchase through its subsidiary Deckorators Inc., a retail brand specializing in decking, railings, and patio accessories.
“This transaction adds aluminum fencing to our current range of vinyl and wood fencing and strengthens our commitment to offer customers more choice and product innovation,” said Landon Tarvin, vice president of Deckorators, in a statement.
“Ultra has a diverse range of products including railings, a loyal and diversified national customer base, and a reputation for quality and professionalism that leads the industry. We are very pleased to be able to offer them as a supplement to our existing Deckorators deck and railing business. ”
Ultra was founded in 1996 and its clients include contractors, landscapers, fence dealers and wholesalers. The company’s 12-month revenue through November this year is approximately $ 46 million.
Both Ultra President Russ Springborn and Vice President of Business Development Dave Stewart will remain in management positions with the company.