Universal Forest Products, Inc. (UFPI) has signed a definitive agreement to purchase idX Corp., an international provider of highly customized merchandising solutions.
Under terms of the agreement, UFPI will acquire all outstanding shares of stock of the holding company, idX Holdings, Inc. The move opens new doors to Universal for growth in adjacent markets and with new products, and offers idX access to enhanced capacity and to new customers and markets. The transaction is expected to close by the end of the 3Q.
Based in St. Louis, Mo., idX is a market leader in the fragmented $6 billion merchandising solutions industry, with a comprehensive offering of products and services.
UFPI doesn’t expect the merger to contribute significantly to profitability for the remainder of 2016, due to the seasonality of idX’s business. The Company currently targets $25 million to $28 million in EBITDA with approximately $6 million in depreciation and amortization for 2017.
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to three robust markets: retail, construction and industrial.
