Acquisitions · Building materials (roof trusses and wall panels)
Sumitomo Forestry buys 70% of Maryland truss and wall panel maker Structural for about $25 million
- Buyer
- Sumitomo Forestry (Tokyo)
- Target
- Structural HoldCo (Structural group, 70%), Thurmont, Maryland
- Value
- About ¥3.6B (about $25M) for 70%
- Status
- Agreed September 30, 2022; expected to close October 1, 2022.
- Date
- 2022-09-30
Sumitomo Forestry agreed to buy 70% of Structural HoldCo, which owns four companies that make roof trusses and wall panels for homebuilders near Washington, D.C. The plant sits on the Pennsylvania–Maryland border. The four companies had about $43 million in sales in 2021.
Why it matters
US builders face labor shortages. Factory-made parts cut time on site, and Sumitomo Forestry is adding such plants to serve its own large US homebuilding business.
The structure
The four companies moved their business into a new company, Structural OpCo, based in Thurmont, Maryland, and led by president Scott Austin. Sumitomo Forestry's unit Builder Solutions Group took 70%, and the sellers kept 30%.
Building a full chain
Sumitomo Forestry wants to handle everything from design and factory production to delivery and assembly on site. In February 2022 it had bought a framing and interior and exterior construction company in the Washington suburbs. It plans to supply group builders with windows, doors, siding and cabinets as well.
Sources
Kakehashi M&A News home
