$82M acquisition is door-kicker for Tampa company

TAMPA — Masonite International Corp. purchased all the shares of door kit supplier National Hickman for $82 million.

National Hickman has about 400 employees near Birmingham, England and Glenrothes, Scotland. The company, which supplies millwork and door kits that are similar to fully finished pre-hung door units, had net sales for the 12 months ended in June of about $110 million. The company primarily does business in the United Kingdom.

“Hickman's leadership in providing door kit solutions to the homebuilder market in the U.K. is a natural extension of our U.K. business,” Chris Virostek, Masonite's senior vice president of strategy implementation and corporate development, says in a press release. He adds that National Hickman's use of automation and product line leadership meshes well with Masonite International's existing strategy.

Late last month Masonite (symbol: DOOR; recent price: $69.20) completed its purchase of Performance Doorset Solutions Ltd. in England, which will add 150 employees and more than $20 million in annual revenue to the company.