GRAND RAPIDS TWP. — Global wood products manufacturer UFP Industries Inc. capped off a frenzied calendar year of dealmaking this week, announcing yet another acquisition to close out 2021.
The Grand Rapids Township-based manufacturer — which operates residential, commercial and industrial segments of its business — announced that it has purchased Ultra Aluminum Manufacturing Inc., a Howell-based company that manufacturers aluminum fencing, gates and railing.
The deal marks the ninth acquisition this year for UFP (Nasdaq: UFPI), whose leadership has indicated that it plans to continue growing the business through M&A activity. Last week, UFP announced that it had acquired an industrial packaging company in the Grand Rapids area.
UFP purchased Ultra for $25 million, which includes $2 million in incentives to achieve certain performance goals.
UFP Industries made the purchase through its subsidiary Deckorators Inc., a retail brand that specializes in decking, railing and deck accessories.
“This transaction adds aluminum fencing to our current lineup of vinyl and wood fencing, and strengthens our commitment to bringing customers more choice and product innovation,” Landon Tarvin, vice president of Deckorators, said in a statement.
“Ultra has a diverse product line, including railing, a loyal and diversified national customer base, and a reputation for quality and professionalism that leads the industry. We’re thrilled to have them as a complement to our existing Deckorators deck and railing business.”
Ultra was founded in 1996 and its clients include contractors, landscapers and both fence dealers and wholesalers. The company’s 12-month sales through November of this year are at approximately $46 million.
Both Ultra President Russ Springborn and Vice President of Business Development Dave Stewart will remain with the company in leadership roles.