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.