Norcraft Buys UltraCraft in Major Cabinet Deal

by WOHe

Norcraft Buys UltraCraft in Major Cabinet
Deal

Eagan, MN Norcraft Companies, L.L.C., the Eagan, MN-based
manufacturer of stock and custom kitchen and bath cabinetry, has
acquired UltraCraft, making Norcraft one of the top 10 cabinet
manufacturing companies in the U.S.

The mid-June acquisition, whose terms were not disclosed, adds
semi-custom and frameless cabinets to Norcraft’s product mix,
increases its offerings to the remodeling sector, provides Norcraft
with an expanded customer base, and gives the company its first
manufacturing facility on the East Coast. At the same time, the
acquisition will provide UltraCraft with an opportunity to increase
its market penetration in the West and Midwest, the companies
said.

The acquisition is Norcraft’s second in the past year. Norcraft
in 1999 purchased Robinson Woods Products, Inc., a manufacturer of
custom cabinetry for the recreational vehicle market.

“The acquisition of UltraCraft is an important step in our
long-term strategy to expand the breadth and price point of our
product lines, build a national infrastructure and increase market
penetration,” said Thomas Klein, president of Norcraft Companies,
L.L.C. “By combining Norcraft’s strength in stock and framed
cabinetry with UltraCraft’s strength in semi-custom/full-overlay
cabinetry, we are creating new opportunities for growth.”

Norcraft which is owned by a pair of private equity firms,
Pfingsten Partners, L.L.C., and Goense Bounds & Partners LLC
has nearly doubled in size over the past 24 months through both
internal growth and the two acquisitions, according to the
company.

UltraCraft, based in Liberty, NC, will operate as a division of
Norcraft and will continue to sell its cabinets under the
UltraCraft brand, adding to the Mid Continent, Norcraft, ProSeries
and Robinson trade names currently produced by Norcraft, according
to the company.

UltraCraft’s 158,000-sq.-ft. manufacturing facility will become
Norcraft’s fifth plant, along with facilities in Minnesota,
Michigan, Kansas and Arizona, the firm added.

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