Osseo, WI—SourceCut Industries Inc., a manufacturer of profile wraps, laminates, composite, and wood components, was acquired by North American Specialty Laminations, a start-up launched by equity investors Building Industry Partners.
Founded in 1999 and based in Osseo, WI, the acquisition of SourceCut Industries, Inc. is its first step in building a best-in-class component profile wrapping and specialty building components manufacturing organization, according to Building Industry Partners. Profile wrapping is a process by which a veneer, vinyl, paper, or foil is laminated onto a moulded substrate (MDF, particleboard, hard/soft wood, etc.) in lineal form.
The business will continue to operate as SourceCut Industries. Brad Wiedenhoeft, founder, continues as chief revenue officer, and Zach Wiedenhoeft continues in his current role of president, with responsibility for the day-to-day operations of the facilities in Osseo. They now report to industry veteran Ted Rock, CEO of the newly formed North American Specialty Laminations.
Equity investors Building Industry Partners’ portfolio includes United Cabinet Holdings, formed in 2012 to pursue acquisitions within the kitchen and bath cabinetry sector. United Cabinet acquired Touchstone Fine Cabinetry in 2012 (sold in 2018 to Precision Cabinets), and acquired Tru Cabinetry in 2013, now run in partnership with Butch Reimer and Allen Godziebieski. In 2011 it acquired Rugby Architectural Products, sold in 2016 to Hardwoods Distribution Inc.
Building Industry Partners says its new business will engage in people-first business practices and broad-based employee ownership as part of its mission to align shareholder, management and employee interests, elevate workforce prosperity, and drive performance. In 2021, Building Industry Partners established its Center of Excellence, to support portfolio companies in developing and implementing best practices, especially in human capital management, which it sees as a strategic pillar to building better businesses and helping employees actualize their career goals.
“We’re excited to kick off our new specialty component manufacturing platform with SourceCut as our foundation, and are looking forward to working alongside the Wiedenhoeft family to build on all they have achieved,” says Matt Ogden, founder and managing partner of Building Industry Partners. Ogden says the partnership and investment in SourceCut will bring to life the Wiedenhoeft family’s vision for the business—investing in human and capital resources to bolster service for existing and new customers, and position the business for organic and acquisition-related expansion.
Ted Rock, new CEO of North American Specialty Laminations, has more than 15 years of experience with building products manufacturing companies, and will lead what the company calls an “ambitious plan” to expand the platform’s footprint. He was CEO of Panoramic Doors, senior VP of PGT Innovations, and COO of Atrium Windows and Doors.
“This is a fantastic opportunity for me and for SourceCut, and I’m looking forward to being a contributor to Building Industry Partners ‘Do Good and Do Well’ mission,” says Rock.
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