Masonite Adds Flush Door Maker
Masonite Inc. has acquired substantially all of the assets of Ledco Inc., located in Shelbyville, Ky. A manufacturer of interior flush doors, specializing in molded, veneer, mirror, pine, and bifold doors, Ledco serves wholesale customer East of the Rockies.
Previously known as Lake Erie Door Co., Ledco was founded in 1964 in Akron, Ohio, by the Solomon family and has been manufacturing and selling door products since its inception. Financial details of the acquisition have not been disclosed.
“Ledco is a well run and highly respected door manufacturer. Their specialized business model is a natural fit for Masonite, and our respective customers will definitely benefit from the combined strengths of both companies," states Larry Repar, Masonite’s executive vice president and COO. "Specifically, Ledco’s bifold and mirror door capabilities, along with their unique Classic Curves product line, will complement Masonite’s product line.”
“We view this acquisition as an important first step as we seek to employ our strong capital structure to accelerate profitable growth by targeting incremental capital expenditures, add-on acquisitions and strategic acquisitions," states Fred Lynch, Masonite’s president and CEO. "We believe Masonite is well positioned to continue to be a leader in the building products industry.”
Steve Solomon, Ledco president, remains with Masonite in a senior advisory role. Maintaining overall responsibility for the Kentucky facility, Joseph Solomon also stays with Masonite. Drew Scott, Ledco vice president of sales and marketing, is assuming a senior sales role with Masonite’s Wholesale Team. The combined experience of these three leaders along with all of their colleagues in the plant and in the field, will add significant additional resources to Masonite as the company continues delivering on its strategic growth initiatives, officials note.
“We welcome all of our new colleagues from Ledco and look forward to growing our business together," adds Lynch. "The Ledco team and product offering is highly complementary to Masonite and the combination of the two companies will certainly lead to significant opportunities for our customers, employees, and suppliers.”