Universal Forest Products acquires idX

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UFPI/FORDAQ
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Universal Forest Products, Inc. signed a definitive agreement to purchase idX Corp., an international provider of store fixtures, retail displays and customized merchandising products in a deal worth $68 million.

Universal Forest Products will acquire all outstanding shares of stock of the holding company, idX Holdings, Inc. The move opens new doors to Universal Forest, for growth in adjacent markets and new products, and offers idX access to enhanced capacity and to new customers and markets. Thetransaction is expected to close by the end of the third quarter of 2016.

Universal Forest Products will also advance $94.5 million to idX to resolve all outstanding debt. Last year Universal Forest Producst acquired a manufactured home builder, Rapid Wood Mfg., and opened a wood components plant in Utah.

Based in Earth City, Missouri, near St. Louis, idX is a market leader in the $6 billion merchandising solutions industry, with a comprehensive offering of products and services. The company was founded in 1999. Today, it has a network of more than 20 manufacturing, program management and sales facilities across North America, Europe and Asia. It’s sales in 2015 raised to approximately $303 million, according to UFPI.

According to FDMC 300 information, the company had nine manufacturing plants, in Ontario, California; Jeffersonville, Indiana; Columbia, Maryland; Washington, North Carolina; Dayton, Ohio; Cedar Hill, Texas; Puyallup, Washington; Leicestershire, UK; and Wujiang City, China.

The company had 1,400 employees, and produced custom fixtures, displays and millwork for the retail, financial and hospitality markets. idX bought Impressions Marketing Group in 2013.

The company ranked 26 on the FDMC 300 in 2015.

“idX brings to Universal the opportunity to supply some of their operations with products we currently manufacture, to grow adjacent business and capabilities, and to serve new customers and markets,” said Universal CEO Matthew J. Missad.

Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to the retail, construction and industrial markets.

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