Union Corrugating Company

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Project Description

Union Corrugating Company

IOP Fund II

Acquisition Date: December 2016
Status: Current
Headquarters: Fayetteville, NC
Add-on Acquisitions:

2018 – Reed’s Metals
Seeking additional acquisitions

DESCRIPTION

Manufacturer of metal roofing systems and roofing components. Products are used in residential, commercial and post frame/agricultural applications. The company serves over 1,200 customers in over 30 states through a diverse range of channels, including home centers, lumber retailers, wholesalers and contractors.

In 2018, IOP acquired Reed’s Metals, a manufacturer of metal roofing and buildings headquartered in Brookhaven, Mississippi, with additional locations in Missouri, Mississippi, Tennessee, Arkansas, Louisiana, Florida, and a sales office in Texas. Reed’s Metals will continue to operate under the well-known Reed’s brand. This acquisition continues the westward expansion of IOP’s metal roofing platform while strengthening key geographic markets. In addition, Reed’s significant capabilities in the manufacturing of metal buildings will be leveraged across both companies.

OPERATING THESIS

Provide support to existing management team

Create fundamental improvement in operating performance:

  • Pursue facility expansions and increase low-cost manufacturing capacity
  • Reduce working capital requirements
  • Capitalize on growth opportunities with new and existing customers
  • Expand platform geographically and by adding new product categories