Holland & Knight Advises Rugby Architectural Building Products in Sale to Hardwoods Distribution Inc.
NEW YORK (July 19, 2016) – Holland & Knight served as legal counsel to Rugby Architectural Building Products in the sale of the company to Hardwoods Distribution Inc. Hardwoods purchased Rugby for $107 million from its owners, including Leading Ridge Capital Partners, a middle-market private equity firm based in Maryland and New York City, which acquired its stake in Rugby in 2011 and subsequently expanded the business with 16 add-on acquisitions. The deal closed on July 15.
Rugby is one of the country’s leading distributors of architectural wood products, decorative surfacing, and doors and millwork to commercial and residential end users, with nearly $300 million in sales, 560 employees and 31 facilities across 35 states. Its products include hardwood plywood and lumber, laminated panels, moldings, high-pressure laminated doors, cabinet hardware and industrial wood coatings. The company is headquartered in Concord, N.H.
Based in Canada, Hardwoods is among the largest distributors in North America of high-grade hardwood lumber, sheet goods, architectural millwork and nonstructural architectural grade building products for residential and commercial construction. With the Rugby acquisition, the company has doubled the number of its U.S. branches.
The Holland & Knight team advising Rugby was led by Adam August, a partner in the firm’s Northern Virginia office. Other members of the team included Associates Alyson Pirio and Tony Steiner.