UFPI agrees to purchase National Fiber
A subsidiary of Universal Forest Products Inc. has agreed to purchase the assets of National Fiber, a Massachusetts-based producer of cellulose insulation.
With a strong presence in the Northeastern U.S., National Fiber distributes its Cel-Pak and Nu-Wool insulation, as well as installation machines, to professional cellulose installers in the region.
“This is a strong complement to our housing and construction business, which continues to improve in the Northeast,” said UFPI CEO Matthew J. Missad. “National Fiber has built a solid business and an excellent reputation as a leader in the cellulose insulation industry, using predominantly recycled materials. We’re delighted to add the company and its people to the Universal family of companies and look forward to growing success together for many years to come.”
National Fiber has reported expected sales of $12.5 million for 2014. The transaction is slated to close by Jan. 31.