Evanston, Ill., December 6, 2017 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced the strategic acquisition of the assets of House of Fara, Inc. (“House of Fara”) by IOP platform company Alexandria Moulding, Inc. (“Alexandria”). Alexandria is a manufacturer and distributor of wood mouldings and related millwork products for the Canadian and Northern U.S. residential housing markets.
Based in LaPorte, Ind., House of Fara specializes in the manufacturing of standard, decorative, and embossed hardwood mouldings, in addition to other specialty products. Alexandria and House of Fara have had a strong partnership for over a decade and operate from adjacent facilities in LaPorte, Ind.
“This acquisition solidifies our hardwood supply and product offering through our distribution facilities,” said Andre Cholette, Alexandria’s President and CEO. “House of Fara has an experienced, specialized team and is a cultural fit with our organization. We will leverage each other’s strengths to further enhance the value we bring to our customers.”
Dave Mackin, Chairman of Alexandria and an Operating Principal of IOP, added, “We believe the acquisition of House of Fara will further strengthen Alexandria’s North American manufacturing capabilities and is a unique opportunity to combine two companies that have worked together for many years.”
McDermott Will & Emery LLP provided legal representation to IOP and Alexandria in the transaction.
About Alexandria Moulding
Alexandria is a manufacturer and distributor of wood mouldings and related millwork products for the Canadian and Northern U.S. residential housing markets. The Company sells directly to retailers as well as wholesale building product distributors and industrial customers. The Company is headquartered in Alexandria, Ontario, Canada and has a manufacturing and distribution facility in Alexandria along with a hardwood manufacturing operation in Bradford, Ontario that serve Eastern Canada. The Company also has a manufacturing and distribution facility in Moxee, Wash. that serves Western Canada and the Northwest U.S. as well as two other distribution facilities in Wilkes Barre, Pa. and La Porte, Ind. that serve the Northeast and Midwest regions of the U.S. For more information, visit Alexandria’s website at www.alexmo.com.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $350 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.