Oct 8, 2022   SOURCE: BusinessWire

North American Specialty Laminations (“NASL”) Acquires Two Leading Building Products Prefinishing Companies, Expanding NASL’s Capabilities and Subject Matter Expertise Across the Cabinets, Mouldings, Wall Panels, Windows, and Doors Segments

North American Specialty Laminations (“NASL”), a platform company of the investment firm Building Industry Partners (“BIP”), has acquired both Midwest Prefinishing, Inc. (“MWP”) and Premium Prefinished Products, Inc. (“PPP”). NASL is the North American leader in differentiated lamination and specialty fabrication solutions to the building products industry. MWP and PPP are best-in-class providers of prefinishing services for interior doors, moulding, and stair parts markets. Together the sister companies represent the largest independent prefinishing operation in the United States. The acquisition strengthens NASL’s prefinishing expertise, a critical capability for customers that demand color in building products. The newly combined company will continue to expand its footprint nationally in pursuit of helping its customers flexibly respond to market pressures around capital investment, labor constraints, and raising transport costs. NASL is based in Osseo, WI and MWP and PPP are based in Middleton, WI.

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NASL serves customers in the window, door, flooring, specialty millwork, and cabinet and case-goods markets. With the support of BIP, NASL takes a people-focused approach to business and 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 better serve customers. This includes a commitment to broad-based employee ownership, which both BIP and NASL are excited to extend to the MWP and PPP team. Mark Larson, the President of MWP and PPP, said “Our slogan is ‘Simply the Best’ and that commitment to excellence and customer service is shared by the NASL team. We look forward to working with the NASL team to leverage our expertise nationally.”

Doug Rende, NASL CEO, said, “We are thrilled to have MWP, and PPP join NASL as the third acquisition in our platform. Our customers are excited about the capabilities that Mark Larson and his team bring to NASL, and I am personally excited to work alongside such a well-respected technical expert.” Zach Wiedenhoeft, the COO and President of NASL added, “Continued expansion and on-going development and adoption of best practices is critical to our success. I am excited to be taking yet another step in our North American platform by joining forces with the team of highly skilled operators at Midwest Prefinishing.”

Pat Mascia, Partner at BIP and NASL Board Chair, commented, “NASL is committed to meeting its customers where they are physically located, with the capabilities that they need to meet the growing demand for color. Prefinishing is one capability that customers require, and we are excited to combine MWP’S and PPP’s tremendously skilled prefinishing team with our team.”

NASL is actively seeking to invest in companies and leaders with expertise in fabrication and substrate manipulation as the platform expands to meet customer demand in building products.

Partners involved in this opportunity were Holland & Knight LLP, Fifth Third Bank and Intrinsic LLC. Siguler Guff, Dewitt Law LLP, Gerald Kerl CPA and Water Tower Capital LLC, advised the sellers.

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 operating partners and advisors across the U.S.

Over the past 14 years, BIP is proud to have co-founded or been first equity sponsor of a number of the fastest growing and most dynamic businesses in the U.S. building industry’s middle market, including U.S. LBM Holdings, Kodiak Building Partners, Homewood Holdings, and U.S. Fence Solutions/Binford Supply.

In 2020, BIP redefined its purpose: to 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. BIP continues to seek opportunities to sponsor the building industry’s greatest talent in building exceptional businesses, realizing their entrepreneurial visions, and increasing shared prosperity amongst its businesses’ shareholders, management, and broader workforce.