Mould­ing sale ‘will help us grow’

The Glengarry News - - Front Page - BY STEVEN WAR­BUR­TON News Staff

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.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.