Universal Forest Products Inc. today announced that one of its subsidiaries has agreed to purchase certain assets of SE Panel and Lumber Supply, a South Daytona, Fla.-based distributor of Olympic Panel overlay concrete forming panels and commodity lumber products to the concrete forming and construction industries.
The transaction is expected to close by mid-November. Two key concrete forming specialists from SE Panel, Mark McBride and Calvin Dodson, who are well-regarded in the industry and have years of experience in concrete forming, will join the companies of Universal to guide and grow the efforts in that market and business. SE Panel’s General Manager Barry Hill intends to join Olympic Panel in a market development role.
“This acquisition enhances our position in the marketplace, brings to us the superior products of Olympic Panel and seasoned salespeople with solid relationships, and helps us expand our footprint in the Southeastern United States,” said UFPI CEO Matthew J. Missad.
“This is a great opportunity for our company and people,” added Kurt Liebich, CEO of Wood Resources, the holding company of SE Panel and Lumber. “Universal’s national presence gives us the opportunity to grow sales of our Olympic Panel overlaid panels with an industry leader.”