North American Specialty Laminations Acquires Haida Industries
Haida Industries LLC has been bought by North American Specialty Laminations, a platform company of the investment group Building Industry Partners (BIP).
Haida will now be known as SourceCut West. SourceCut Industries, headquartered in Osseo, Wisconsin, is a leader in window, millwork, and building product component profile wrapping.
American Laminations invests in and grows businesses that produce and manipulate unique substrates as well as laminate and wrap component profiles for customers in the window, door, flooring, specialty millwork, cabinet and casegoods industries.
American Laminations, which is supported by BIP, takes a people-first approach to management and seeks to partner with leaders who believe that aligning interests with employees is the best way to build strong businesses that serve their customers well – and thus create shared economic prosperity for all.
The move to Reno, Nevada, establishes a Western manufacturing and distribution base for SourceCut, allowing the American Laminations platform of firms to service building materials companies throughout the Western United States.
Ted Rock, CEO of American Laminations, stated, “We are honored and thrilled to welcome Haida into the American Laminations family of businesses as the second investment in our platform, operating as SourceCut West. Put simply, our customers have national distribution needs and reach, and we are expanding to accommodate these needs.”
Brad Wiedenheoft, Founder of SourceCut and CRO of American Laminations commented, “Geographic expansion was an impetus for partnering with BIP to create American Laminations and this acquisition is a critical first step. We look forward to further expansion.”
Pat Mascia, a Partner at BIP, added, “Reno is a location we identified as attractive because it allows SourceCut to serve the West (U.S.). Consumers are demanding color and cost-effective and environmentally friendly solutions. Profile wrapping for building product manufacturers meets these interests.”
As the platform expands to fulfill consumer demand for building products, American Laminations is aggressively seeking to invest in companies with expertise in substrate manipulation.
Holland & Knight LLP and Fifth Third Bank were partners in this venture.