VRA Partners, LLC is pleased to announce that Union Corrugating Company (“Union”), a portfolio company of Industrial Opportunity Partners (“IOP”), has acquired Reed’s Metals, Inc. (“Reed’s”), a manufacturer and distributor of metal roofing systems and pre-engineered metal buildings. VRA Partners advised Union Corrugating on its sale to IOP in 2016 and acted as the exclusive financial advisor to Union on this transaction. Terms of the transaction were not disclosed.
Reed’s is a manufacturer and distributor of metal roofing systems and pre-engineered metal buildings. The Company is headquartered in Brookhaven, Mississippi and has a total of seven manufacturing facilities and one sales office across the Southeastern U.S. The Company’s products are used in residential, commercial, post-frame/agricultural and other industrial applications. Reed’s customer base consists of contractors, wholesalers and homeowners. IOP and Union are partnering on this investment with the founder and CEO of Reed’s and with the management team, all of whom will have ownership interests and will remain in their current roles. Reed’s will operate as a separate business unit under the Union platform and will continue going to market under the well-known Reed’s brand.
Union is a leading manufacturer of metal roofing systems and roofing components. The Company is based in Fayetteville, North Carolina with multiple additional low-cost, efficient manufacturing and distribution facilities located throughout the Southeast, Mid-Atlantic and Midwest U.S. Union’s products are used in residential, commercial and post frame/agricultural applications. The Company serves over 1,200 customers in over 30 states through a diverse range of channels, including home centers, lumber retailers, wholesalers, and contractors.
IOP, an Evanston, Illinois-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $400 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.
VRA Partners, an independent Atlanta-based investment bank, focuses on providing M&A services to leading middle-market companies and private equity firms. VRA Partners also assists companies with raising capital for growth, acquisitions, recapitalization, going-private and management buy-out transactions, and provides fairness opinions, valuations and strategic advisory services. The professionals of VRA Partners have completed transactions across a broad range of industry sectors, including consumer and retail, business services, healthcare services and technology, industrial products and services, and technology and communications. VRA Partners, LLC is a Member FINRA/SIPC. For more information, please visit our website at www.vrapartners.com.