CONSTRUCTION

Blue Wolf Capital Announces Sale of Novo Building Products

Wolf Partners Capital, Novo Building Products | June 24, 2021

A private equity firm based in New York, Blue Wolf Capital Partners, announced today that the firm concluded a definitive agreement to sell Novo Building Products LLC to Hardwoods Distribution Inc., one of the largest North American distributors for the residential, repair and remodeling, and commercial construction industries of grade architectural products.

Novo is a major producer and added value distributor of moldings and milling, stair, and other construction goods for national retail centers and building materials suppliers in the United States and portions of Canada and Mexico, with headquarters in Zeeland, MI.

In 2016, Blue Wolf acquired Novo from Tenon Limited, a public corporation based in New Zealand, and has since worked with the Novo team to implement a value creation plan to achieve operational efficiencies and diversify customer base and product portfolio means of organic growth and M&A. In 2019, Novo was named CEO by George Judd, Blue Wolf's strategic advisor with a long track record in the construction products industry. His leadership has significantly accelerated the value creation strategy and has placed Novo in the position of sustainable growth.

Blue Wolf Partners Capital
Blue Wolf Capital Partners LLC is a private equity company specialized in mid-market investments. With expertise and competence, Blue Wolf strategically, operationally, and jointly transforms companies. Blue Wolf manages difficulties and complicated interactions for stakeholders, including companies, customers, employees, unions, and regulators.

About Novo Building Products
Novo Building Products is a distributor and manufacturer of specialized construction products. Novo provides clients throughout the US, Canada, and Mexico with moldings, stair parts, doors, and other specialty millwork products. Novo operates from 14 sites throughout the U.S., Florida, and Texas, mainly in the East and Midwest. Empire Moulding & Millwork, Southwest Moulding & Millwork, Ornamental Decorative Millwork, LJ Smith Stair Systems, and Novo Direct belong to the Company's divisions.

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