RED LION, PA. (Dec. 8, 2:05 p.m. ET) — Polyurethane millwork maker Apex Urethane Millwork has acquired competitor Safari Stone for an undisclosed price.
Fort Lauderdale, Fla.-based Safari Stone produces elaborate millwork with decorative finishes that simulate numerous effects, including hand-finished wood grain, aged stone and salt-eroded sea coral, Apex chief operating officer Michael Sampere said in a Dec. 8 phone interview.
Apex, based in Red Lion,
Safari Stone “was a competitor, but they were in a much higher market than we were,” he said. “They did a lot of high-end commercial work.” Sampere declined to provide more details on Safari Stone, but he said the firm's two owners will remain with Apex.
Apex opened in 1999 and claims to be the largest polyurethane millwork manufacturer in the U.S. Sampere said that Apex employs more than 100, but he declined to provide sales data for the firm, which moved to its current site from a smaller location in Red Lion in 2007. Apex opened its first foreign sales office in
“We're continuing to put more money in the business and are looking to make more acquisitions,” Sampere said.
Apex is majority-owned by its president, E.L. Dinning. The Red Lion site is its only manufacturing plant, and all of the firm's raw materials also are made in the
The company makes molded trim parts in polyurethane for decorative architectural uses. Applications include interior and exterior window surrounds, fireplace moldings, and customized stairways in residential and other buildings.
Sampere said the firm enjoyed sales growth in 2011, due in part to refocusing its efforts from the residential market to commercial projects.