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RedBuilt acquires certain Standard Structures Inc assets as SSI exits the engineered wood products business

Atlas Holdings portfolio company RedBuilt, a leading supplier of engineered lumber products, has signed an agreement to purchase certain Standard Structures Inc (SSI) assets, such as equipment, raw materials inventory and intellectual property.

SSI, a leading manufacturer of glulam beams, I-joists and open-web trusses for commercial and multifamily roof and floor systems, plans to exit the engineered wood products business and restructure its remaining business around its core glulam product line. SSI’s president and CEO, Richard Caletti, cited extraordinary financial stress associated with the worst recession since the Great Depression as the cause in SSI’s Aug. 19 announcement.

“Standard Structures has been a strong competitor of ours over the years and we have a great deal of respect for the company and the Caletti family, who founded SSI more than six decades ago,” says RedBuilt president and CEO Kurt Liebich. “It’s unfortunate when any company finds itself in this situation. However, RedBuilt’s acquisition of certain assets related to SSI’s engineered wood products business is a logical fit, and it is in the best interests of both companies and the many customers we both serve.”

RedBuilt will not be manufacturing SSI-branded engineered wood products. “We’re not able to produce Standard Structures products due to building code regulations, so SSI engineered-wood I-joists and open-web trusses will no longer be available,” Liebich said. “However, RedBuilt offers many comparable, innovative, industry-leading products, and we hope to work with SSI’s former engineered wood products customers to identify suitable alternatives that satisfy their project requirements.”

RedBuilt has been recognised as a leader in developing wood-based structural solutions since 1960. It offers the industry’s most innovative engineered-lumber products and building systems for commercial, industrial and multifamily applications. RedBuilt’s offerings include composite wood-and-steel open-web trusses, engineered wood I-joists, engineered lumber like LVL, and complementary components, product engineering, and onsite technical support, as well as a range of concrete-forming and scaffold-planking solutions. Visit www.redbuilt.com for more details.

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