Press Release WoodCrafters to Fortune Brands Home & Security
WESLACO, TEXAS - Seale & Associates, Inc. ("Seale") announced that it acted as financial advisor to WoodCrafters Home Products ("WoodCrafters"), a leading designer and high quality manufacturer of bathroom furniture in North America, on the sale of the company to Fortune Brands Home & Security, Inc. (NYSE: FBHS) ("FBHS"), an industry-leading home and security products company. WoodCrafters will operate as a business unit of MasterBrand Cabinets, which is the kitchen and bath cabinetry unit of FBHS. The announced value of the transaction was US$300 million.
Woodcrafters, headquartered in Weslaco, Texas, is a leading, privately-owned manufacturer of bathroom vanities and tops with estimated annual sales of US$230 million and approximately 2,000 associates. WoodCrafters operates highly efficient, vertically integrated manufacturing operations in southern Texas and northern Mexico, including the world's largest and most sophisticated facility for the production of composite vanity tops. Products are sold through the largest home improvement centers in North America. WoodCrafters is led by a strong seasoned management team with an execution-driven culture.
FBHS, headquartered in Deerfield, Illinois, provides home and security products and services for use in residential home repair, remodeling, new construction, and security and storage applications. The company's trusted brands include Master Lock security products, MasterBrand cabinets, Moen faucets, Simonton windows and Therma-Tru entry door systems. FBHS holds market leadership positions in all of its segments. FBHS has more than 16,000 full-time associates and generated $3.6 billion in net sales in 2012.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.