Wednesday, September 21, 2016 11:45 am

GRAND RAPIDS, Michigan -- Forest products company Universal Forest Products, Inc. UFPI announced that it has completed the acquisition of St. Louis, MO.-based custom merchandising solutions provider, idX Corp.

As revealed, Universal Forest Products acquired all the outstanding shares of idX Corp's holding company, idX Holdings, Inc. idX Corp. is an internationally recognized firm in the merchandising solutions market, worth $6 billion. The firm generated sales of roughly $303 million in 2015 and has manufacturing, program management and sales facilities in excess of 20 in various countries including North America, Europe and Asia.

Universal Forest Products paid roughly $64.8 million in cash as well as advanced $92.9 million to idX for retiring its outstanding debts. The transaction value was paid through cash and borrowings under revolving credit facility.

This acquisition will add new product portfolio and new customer base to Universal Forest Products' existing businesses. Also, the addition of skilled workforce of idX will allow the company to penetrate smoothly in the new end markets.

Universal Forest Products does not expect any significant impact of this acquisition on its 2016 results. It predicts the acquired assets to generate approximately $25−$28 million in earnings before interest, tax, depreciation and amortization and incur roughly $6 million in depreciation and amortization expenses in 2017.