Osseo, Wis. — Building Industry Partners, a LBM industry- focused private equity investment firm, has formed a new specialty building products component manufacturing platform, American Laminations, in partnership with building industry veteran Ted Rock of North American Specialty Laminations. BIP and Rock formed American Laminations to build a best-in-class, people- first component profile wrapping and specialty manufacturing organization, BIP announced in a press release.
Concurrent with its formation, American Laminations made its inaugural investment, the acquisition of the assets of SourceCut Industries, Inc. in partnership with SourceCut’s existing owners and management team.
Founded in 1999, SourceCut Industries, Inc. is a manufacturer of laminated, composite, and wood components serving the residential and commercial window and door, cabinet and casegood, architectural millwork, furniture and fixture/display industries.
Brad Wiedenhoeft, founder of SourceCut, will continue with American Laminations as chief revenue officer. Zach Wiedenhoeft will continue in his current role of president, with responsibility for the day-to-day operations of the facilities in Osseo, Wisconsin. Both Brad and Zach Wiedenhoeft will support Rock who will serve as chief executive officer of North American Specialty Laminations. SourceCut Industries, Inc. will retain their business’ name.
“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. We’re also introducing a proven, growth-minded manufacturing leader in Ted Rock, growth capital, and a commitment to driving enhanced results for our employees, customers, and business operations overall,” said Matt Ogden, founder and managing partner of BIP. “North American Specialty Laminations is BIP’s second new platform under our people- first purpose. BIP renewed its purpose to drive a new standard in its investing that better aligns shareholder, management and employee interests, and prioritizes human capital management as a strategic pillar to building better businesses, generating better investment returns, and helping employees actualize their career goals.”
Brad Wiedenhoeft, the founder of SourceCut, added, “BIP’s commitment to SourceCut’s people was an intriguing factor in pursuing this partnership. BIP’s relationships, talent resources, and capital investment will allow us to continue our strategic growth plan – providing our customers excellent service levels with quality products. Most importantly, enhancing our pursuit to provide our employees best in class opportunities. I’m very excited about the positive impact this partnership will have for our great employees, and for our customers who trust us with their business.”
Rock joins as CEO of North American Specialty Laminations, drawing on his 15+ years of experience with building products manufacturing companies, and track record of growing private equity-backed organizations. Rock will lead the company’s future growth, including an ambitious plan to expand the platform’s footprint. He most recently served as CEO of Panoramic Doors, senior vice president of PGT Innovations, and as chief operating officer of Atrium Windows and Doors.
“We are grateful for the opportunity to partner with a talented and experienced leader like Ted Rock – his unique experience across Private Equity, Specialty Manufacturing, and the Window and Door segment make him especially qualified to lead American Laminations. We are honored to be working alongside Mr. Rock and the Wiedenhoeft family to build on the success they have each achieved individually, and to bring our collective experiences, skills, and resources together to drive a game-changing platform,” said Pat Mascia, partner & head of strategic development for BIP.
“It has been a pleasure to get to know the Wiedenhoeft family, and a privilege to be entrusted to lead this platform alongside them. I am delighted by the opportunity to partner with BIP, a firm that I have admired both for their investment track record and for their explicit commitment to the employees of BIP portfolio companies. This is a fantastic opportunity for me and for SourceCut, and I’m looking forward to being a contributor to BIP’s ‘Do Good and Do Well’ mission,” Rock added.
Two BIP operating partners—Peter Stroble and Chris Kliefoth—will be joining the board of North American Specialty Laminations as directors. Stroble previously held roles as chief strategy officer, chief operating officer, and chief financial officer of Alta Forest Products, as well as president of Alta’s predecessor, Welco Lumber Company. Kliefoth is a Wisconsin native, with experience in private equity, manufacturing, and leadership – including 15+ years as [resident of Nationwide Industries.