Moulding sale ‘will help us grow’
Moulure Alexandria Moulding President André Cholette says that the company’s acquisition by Atlanta-based U.S. Lumber will bode well for the future.
About two-and-a-half years ago, the 75-yearold company had sought some financial help through private equity. With the acquisition, which was announced last week and will likely be formalized in the early fall, Alexandria Moulding will now be managed and financed by its new strategic partner.
“We are very excited to be partnering with U.S. Lumber as the next stage of Alexandria Moulding’s growth,” Mr. Cholette said by way of an Aug. 15 press release.
“U.S. Lumber has earned a great reputation in the marketplace and its commitment to values like honesty and integrity is a perfect match for Alexandria Moulding’s strong culture. Becoming a part of U.S. Lumber will allow us to enhance our product and service offerings as we continue to provide growth opportunities for our customers, suppliers and employees.” In a follow-up interview with The Glengarry
News on Friday afternoon, Mr. Cholette said that the acquisition shouldn’t translate into any layoffs at the local end.
“It’s the opposite,” he said. “This means we’ll be able to grow.”
He says that as the company gets bigger, he expects he’ll need more people in sales, customer service, and in the warehouse.
Mr. Cholette adds that the move should also open up additional markets in the United States.
For his part, US. Lumber President and CEO Jeff McLendon is just as hopeful.
"We are thrilled to be partnering with the Alexandria Moulding team as we continue to grow our business. Alexandria Moulding brings to the U.S. Lumber family the very highest level of expertise and capabilities in mouldings, along with a 75-year history of exceptional customer service through its distribution arm. This acquisition advances our growth strategy by expanding our geographic presence and product mix, and adds an exciting new set of capabilities to our company. We're particularly pleased that combining these complementary businesses will enhance
Alexandria company “very excited to be partnering with U.S. Lumber”
the value proposition we collectively offer our trading partners.”
According to the media release, Alexandria Moulding will continue to be led by its existing management team after the acquisition is finalized, expected to be no later than early October.
Mr. Cholette will be joining the U.S. Lumber board of directors.
Financial terms of the transaction were not disclosed.