Hardwoods Distribution Inc. (HDI) completed its purchase of Novo Building Products from Blue Wolf Capital Partners.
“This is a transformative acquisition for the company,” Rob Brown, president and CEO of HDI, said. “Novo significantly broadens our addressable market, providing turnkey access into the home center and home builder distribution customer segments. We believe the combined scale and sophistication of HDI and Novo creates a national platform to provide additional solutions to our customers, and allows us to capitalize on the market share opportunity available.”
Novo Building Products is a manufacturer and distributor of stair parts, mouldings, doors, and specialty millwork, along with a variety of board products. Zeeland, Mich.-based Novo Building Products operates Ornamental Decorative Millwork, L.J. Smith Stair Systems, Empire Moulding & Millwork, Southwest Moulding and Millwork, and Novo Direct. Novo has annual sales of over $640 million, servicing 230 major metropolitan markets across 30 states from its 14 facilities.
“We’re excited about joining the impressive HDI family of distribution,” Jeff Leys, president and COO of Novo Building Products, said in a news release. “This is a time of growth at Novo Building Products and this recent acquisition helps strengthen us in the marketplace.”
Following the acquisition, Novo Building Products’ 14 facilities will continue to operate under the Novo brand and all members of the staff will stay on with the company.
HDI is a distributor of architectural grade building products to the residential and commercial markets. The company has 71 distribution centers across North America under the brand names: Hardwoods Specialty Products, the Frank Paxton Lumber Company, and Rugby Architectural Building Products. The company also operates one sawmill with a kiln drying operation, Hardwoods of Michigan.
