M-D Building Products makes acquisition
Oklahoma City-based M-D Building Products acquired Loxcreen Co., a privately held precision manufacturing company founded in 1946 on patents for fabricating window screens.
The acquisition includes Loxcreen’s Canadian flooring group operated under the Bengard Manufacturing name in Mississauga, Ontario. Terms of the deal were not disclosed. The combined sales of both companies will exceed $200 million annually.
The two privately held companies, with approximately 800 employees at nine manufacturing and distribution facilities in the United States and Canada, specialize in customized aluminum and plastic extrusion manufacturing in connection with producing and marketing a variety of window, flooring, door and tool products, and accessories used in commercial and residential construction and renovation.
“The Loxcreen acquisition and its related manufacturing, engineering and products presents a unique opportunity for us to bring two complementary and compatible businesses with strong market presence together to drive long-term growth,” said Loren Plotkin, chairman and president of M-D Building Products. “For many years, we have admired Loxcreen as a quality competitor with a strong line of well-engineered and manufactured building products. We know them well and realized early in the due diligence process that the combined companies would be synergistically stronger with greater opportunities given our ability to increase our vertical manufacturing capabilities and expand product lines to meet our customer’s evolving needs.”
Loxcreen’s CEO Wayne Parrish, said: “While our emotions are mixed with selling the business after a successful 65 years of operation, we recognize the acquisition by M-D Building Products offers expanded opportunities long-term for our employees and customers.”
In addition to operations in Canada, Loxcreen also operates manufacturing and distribution facilities in Georgia, Oregon, Texas, Ohio, Missouri and South Carolina. Loxcreen is based in Columbia, S.C.
Joe Comitale, president of Loxcreen Canada and COO of the Loxcreen Co., will continue in his role as president of Loxcreen Canada and will join M-D Building Products as executive VP.