Novo Building Products, a Blue Wolf Capital Company, Acquires L.J. Smith, Inc.
Company Press Release
Novo Building Products (“Novo”), one of the largest suppliers of moulding, stair parts, doors and specialty millwork to lumberyards, home centers, specialty millwork shops, and stair builders east of the Rockies and Canada, acquired L.J. Smith, Inc. (“L.J. Smith”), the company announced. Terms of the transaction were not disclosed. Novo is owned by an affiliate of Blue Wolf Capital Fund III, L.P. (“Blue Wolf”).
L.J. Smith is a 133-year old, privately-held company widely recognized as the industry leader in stair parts. It offers the most complete line of core stocking and special-order stair parts to lumberyards and stair builders in the industry. L.J. Smith had been a portfolio company of McDonough Corporation, a privately-held holding company operating in various industries including barge rental and marine logistics, construction elevators, and millwork.
Tom Highley, CEO of Novo Building Products, said, “This is a highly strategic add-on for Novo. L.J. Smith has long been considered the preeminent stair parts business in the industry. The company offers our customers stair part manufacturing and distribution capabilities on a national scale and supports our vision of becoming the leading millwork supplier in North America.”
“We welcome the team at L.J. Smith to the Novo family and believe this combination will strengthen both organizations” said Michael Ranson, a Partner at Blue Wolf. “Blue Wolf prides itself on helping businesses grow by creating value – adding the industry leader in stair parts and expanding to a national footprint positions Novo for continued value creation and success.”
About Novo Building Products
Founded in 2016 and headquartered in Zeeland, MI, Novo Building Products is a millwork manufacturing, marketing and distribution holding company. The company sources products globally and focuses on the high-value millwork markets in North America. Novo supplies mouldings, stair parts, doors, and other specialty millwork products to lumberyards, home centers, specialty millwork wholesalers, and stair builders in North America. The company’s divisions include The Empire Company, Southwest Moulding Company, Ornamental Mouldings, Fletcher Wood Solutions and L.J. Smith and Creative Stair Parts.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders.
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Source: Business Wire, Inc.