Selectwood announced that it has been acquired by Eldredge Lumber & Hardware, Inc. (“Eldredge”). Selectwood is a specialty building products distributor that has a 35-year history of providing exotic hardwood lumber, specialty windows and composite building materials for high-end residential and commercial building projects. This transaction is the successful culmination of an initiative led by Peloton Advisory LLC to proactively identify a strategic partner that would value the market position, support the knowledgeable, long-term employees and bring added resources and products to Selectwood’s professional contractor customer base while allowing the founders to exit the business.
Founded in 1982, Selectwood (www.selectwood.com) operates out of a 70,000 square foot facility in Portsmouth, New Hampshire and serves custom home builders and remodelers from Boston, Massachusetts to Portland, Maine. Selectwood has a reputation as a premiere stocking distributor of high-grade cedar, mahogany, ipe, redwood, Douglas fir as well as high-end composite building materials and hardware.
“A strong customer base, unique specialty lumber expertise and an experienced team focused on customer relationships make Selectwood an ideal addition to our family of companies,” said Dan Remick, General Manager of Eldredge Lumber. “By adding a specialty lumber market leader in Selectwood, we’re gaining unique expertise and expanding our reach and customer base in the coastal New England market.”
Eldredge Lumber (www.eldredgelumber.com) is a third generation family business founded in 1937. The Eldredge family of companies has grown into a regional leader for suppling building materials and home supplies. Offering a comprehensive portfolio of building and hardware products, including windows, doors, millwork, wallboard, roofing, siding, engineered components, cabinetry and hardware, Eldredge Lumber is able to offer the best quality products at competitive prices for jobs of all sizes, ranging from large contract jobs to small, do-it-yourself projects.
Peloton Advisory LLC (www.pelotonadvisory.com) provides M&A advisory to highly successful, privately-owned entrepreneurial companies and their owners.