Photo by Emily Mentzer
ACProducts Inc. announced on Nov. 15 that it entered into an agreement to acquire Elkay Wood Products Company.
As of Tuesday, November 27, 2018
INDEPENDENCE — ACProducts Inc. announced on Nov. 15 that it entered into an agreement to acquire Elkay Wood Products Company, a leading manufacturer of kitchen and bath cabinetry, according to a news release.
“There are synergies between the companies that will stimulate growth,” said John Hamlin, plant manager at the Independence facility. “I cannot elaborate at this time.”
There will not be layoffs, he said.
“No one will lose his or her job as a result of this acquisition, and we are still actively hiring,” Hamlin said.
Elkay Wood Products currently employs 230 people at the facility and 1,400 overall, he said.
EWP’s brand portfolio includes Medallion, Design-Craft, Yorktowne, Schuler, Medallion at Menards, MasterCraft, and American Cabinetry Collection.
The combined plant network spans a national footprint with infrastructure to serve cabinet buyers in all 50 states.
The transaction with ACProducts, which is subject to customary closing conditions, is expected to be completed by the end of the first quarter of 2019.
Jefferies LLC served as financial advisor to Elkay Manufacturing Company in connection with this transaction and Mayer Brown LLP acted as Elkay Manufacturing Company’s legal advisor.
Ropes & Gray LLP served as legal advisor to ACProducts Inc. in connection with this transaction.