Wind Point Partners Announces Sale of OX Engineered Products to Holcim
Chicago, Ill., October 8, 2024 – Wind Point Partners (“Wind Point”), a Chicago-based private equity firm, announced today it has sold portfolio company OX Engineered Products (“OX” or the “Company”) to Holcim, a global leader in innovative and sustainable building solutions.
Headquartered in Michigan, OX is a manufacturer of integrated structural sheathing and thermal insulation products. The Company also produces a comprehensive suite of building envelope solutions that serve residential and commercial applications. The OX product offering is uniquely positioned to address builders’ critical themes related to energy efficiency, sustainability and labor costs.
Wind Point acquired OX in 2018 in partnership with industry veteran Dave Ulmer, who joined the Company as CEO. Prior to OX, Mr. Ulmer served in both COO and CEO roles of The Tapco Group, a global manufacturer of high-performance external building products. Under Wind Point’s ownership and leadership of OX’s management team, the Company was transformed from a regional business with product concentration and limited strategic direction into a national provider of diverse and innovative building envelope solutions. OX’s growth was driven by a combination of investments in production capacity to support organic growth, one strategic add-on acquisition and continuous improvement initiatives that delivered operational efficiencies.
Mr. Ulmer stated, “I would like to thank Wind Point and our board of directors for their incredible support in transforming OX Engineered Products. It was a true partnership each step of the journey. We are excited to continue the next phase of our growth by joining Holcim. They are a world-class organization with tremendous resources, technical expertise and customer access. We look forward to partnering with Holcim to build an unmatched portfolio serving the needs of customers in the building products markets we serve.”
Paul Peterson, Managing Director at Wind Point, commented, “OX is an excellent example of Wind Point’s strategy at work, with a focus on transforming businesses through a combination of both organic and acquired growth. Dave did an outstanding job developing the long-term vision for OX and assembling a dynamic leadership team who unlocked significant value creation opportunities. This was a terrific partnership, and we are thankful to the OX leadership team for helping us deliver a strong outcome to our investors.”
Reed Smith LLP served as legal advisor to OX in the transaction. Rothschild & Co. acted as financial advisor and Forvis Mazars, LLP provided financial due diligence support.