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Transaction Details
Company Name: Washington Hardwoods
Address: 3257 17th Ave West Seattle, WA 98119 US
Company website: www.washingtonhardwoods.com
Purchase date: 2013
Transaction type: Buy/Sell Transaction
Buyer: Clarke Group
Description
For over 20 years the Company has been providing high-quality architectural wood products for Class A commercial offices and high-rises and high-end residential. The Company has a vertical product line and sells direct to general contractors, tenant improvement companies and distributors. With diverse industries served such as; hospitality, government, health care, education, philanthropic, technology and professional services, the Company provides products and services to hundreds of high profile customers and contractors.
Facilities
The property is on 1 acre with ~ 41,000 square feet under roof, consisting of four buildings; main warehouse, sales office, (2) workshops, main shop floor, storage and main office. The facility accommodates 25-30 no fee parking spaces on the street and is set-up for truck deliveries with ample space for maneuverability. In anticipation of the sale, in 2012 the lease with the property owner was renewed on a month-to-month basis, commencing April 1, 2013, giving the buyer the utmost flexibility in remaining, moving or consolidating facilities. This lease is assumable.
Competition
There are a few small competitors in the primary geographical area but the Company tends to be more price competitive, offers project management services and support, and provides shorter lead times on larger jobs due to the company’s production efficiencies as the only high-production manufacturer of its products in the region. The Company is also an industry leader in servicing the Hawaiian markets (a significant area of growth for the Company in the past five years). The Company has built their reputation around providing high-quality products and services, all delivered with an emphasis on customer satisfaction, resulting in loyal customers, growing revenues, strong profits, stable employees and a strong position for the future. Performance is distinguished by: 1) stable revenues that are diversified geographically and across product segments; 2) a broad base of loyal customers that purchase regularly; 3) the breadth and strength of their product offerings; 4) a stable, experienced management team and an exceptional group of loyal employees, many of whom have been with the Company for more than ten years.
Growth and Expansion
The Company is well positioned to expedite various growth strategies such as; roll-up, rolled-up, geographic expansion, vertical channel product line expansion, existing product focus and branding. The company’s products can be FSC certified and are readily accepted in the LEED building programs. Currently, FSC is the only wood certification accepted by LEED at this time giving the Company a strong market place advantage.
Reason for Selling
Part of planned divesture.
Support and Training
Current management will remain as well as ample transition training from owners.
Next Steps
For more information, contact Roupp Acquisitions Inc at;
inquiry@rouppacquisitions.com or give us a call at 206.915.9635.