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The purchase will expand Universal's manufacturing capacity in the Northern California market, allowing Universal to serve national and regional home builders in the area.
'Our acquisition strategy has been to target successful businesses that can add to our capacity or enhance our product offerings in strategic geographic areas,' said Universal CEO and Chairman William G. Currie. 'We were seeking to expand our ability to supply engineered wood components used in the construction of site-built housing in Northern California. Dura-Bilt presented us with that opportunity, and more.'
In addition to expanding truss capacity in the region, the purchase allows Universal to introduce area builders to its other engineered products, such as wall panels and Open Joist, which help builders erect homes more quickly, cost-effectively and accurately.
Dura-Bilt was founded in 1964 by Leonard and Grace Lovalvo, who remained the company's sole owners. The company has approximately 110 employees who work at the Riverbank, CA facility and who are expected to remain with Universal after the acquisition. The company will continue to operate under the name Dura-Bilt for the near future as a part of Universal's Western Division.
Universal Forest Products markets, manufactures and engineers wood and wood-alternative products for DIY retail home centers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market and specialty wood packaging for various industries. The company also provides framing services for the site-built sector. Universal has approximately 9,500 employees who work in more than 100 locations. Sales for 2005 were nearly $2.7 billion.