RENO, Nev.--(BUSINESS WIRE)--North American Specialty Laminations (“American Laminations”), a platform company of the investment firm Building Industry Partners (“BIP”), has acquired Haida Industries LLC (“Haida”). Going forward, Haida will operate as SourceCut West. SourceCut Industries is an expert in window, millwork & building product component profile wrapping, and is headquartered in Osseo, Wisconsin.
American Laminations invests in and grows companies that manufacture and manipulate specialty substrates and laminate and wrap component profiles for customers in the window, door, flooring, specialty millwork, and cabinet and casegoods markets. Supported by BIP, American Laminations takes a people-first approach to management and looks to partner with leaders that share the belief that aligning interests with employees is the best way to build strong businesses that serve their customers well – and in doing so create shared economic prosperity for all. The expansion to Reno, Nevada establishes a Western manufacturing and distribution hub for SourceCut enabling the American Laminations platform of companies to service building products companies in the Western United States.
Ted Rock, American Laminations CEO, said, “We are honored and thrilled to welcome Haida into the American Laminations family of businesses as the second investment in our platform, operating as SourceCut West. Put simply, our customers have national distribution needs and reach, and we are expanding to accommodate these needs.” Brad Wiedenheoft, the Founder of SourceCut and the CRO of American Laminations, added, “Geographic expansion was an impetus for partnering with BIP to create American Laminations and this acquisition is a critical first step. We look forward to further expansion.”
Pat Mascia, Partner at BIP, commented, “Reno is a location we identified as attractive because it allows SourceCut to serve the West (U.S.). Consumers are demanding color and cost-effective and environmentally friendly solutions. Profile wrapping for building product manufacturers meets these interests.”
American Laminations is actively seeking to invest in companies with expertise in substrate manipulation as the platform expands to meet customer demand in building products.
Partners involved in this opportunity were Holland & Knight LLP and Fifth Third Bank.
About Building Industry Partners
Building Industry Partners (“BIP”) is the leading private equity investment firm focused on the U.S. building industry. Founded by Matt Ogden in 2008, BIP is headquartered in Boston, with partners across the U.S. The firm is led by Matt and Partners Pat Mascia, Pete Robinson, and Stu Kliman and supported by the firm’s Operating Partners. BIP invests its Partners’ own capital, as well as that of a number of strategic, like-minded investors, including business leaders and family offices affiliated with the U.S. building industry.
In 2020, BIP redefined its purpose: Build exceptional and enduring businesses, generate world class investment returns, and contribute to elevating the building industry and its workforce through people-focused investment & business principles. Accordingly, BIP is committed to elevating the employee value proposition at its portfolio companies.
BIP remains firmly grounded in its core fundamental investment principles: Unwavering integrity, a people-first approach to business, alignment of long-term interests with partners, respect for the advantages of local, independent, entrepreneurial businesses, deep sector focus, the power of relationships, and a prudent approach to macro, business and financial risk.
Over the past decade, BIP is proud to have been part of building some of the fastest-growing and most dynamic businesses in the middle-market U.S. building industry: U.S. LBM Holdings, Kodiak Building Partners, United Cabinet Holdings, Homewood Holdings, and U.S. Fence Solutions Co / Binford Supply. BIP continues to seek opportunities to sponsor the building industry’s greatest talent in building exceptional businesses and realizing their entrepreneurial visions.