5M Group led a joint venture as the managing partner and completed the acquisition of three hardwood manufacturing companies: Cox Interior, Cox Shavings and Cox Dimensions.
Cox Interior, the core business comprising 90% of the acquisition, manufactures and distributes milled building products such as moldings, interior and exterior hardwood doors, mantels, stair parts and systems, custom trim and custom millwork used in new construction, repair and remodeling.
Cox Shavings offers wood shaving byproducts used for animal bedding, and Cox Dimensions is a wood kiln drying and wholesaling company.
The acquisition of the Cox companies is a major step in fulfilling the mission of 5M Ventures to execute mergers and acquisitions within the real estate construction supplies industry across the country. The Cox companies produced $70 million of revenue in 2023 at 11 locations in the Southeast while utilizing a 937,000-square-foot facility on a 144-acre manufacturing campus south of Louisville, Kentucky.
Image: Cox closing
The strategic acquisition of the Cox companies is foundational to 5M's long-range growth plan. 5M has announced 2024 expansion plans that include the opening of three additional Cox Interior locations in the key regional cities of Chicago, Charlotte and Miami.
Additional plans currently in the pipeline for 5M in synergy with the acquisition of the Cox companies include:
- Acquiring Whitney & Whitney Lumber Company, a specialty hardwood manufacturer in Kentucky that focuses on unique species of hardwood
- Closing on an equity investment in Maine Plywood, a Multiply underlayment plywood manufacturer, that will be fully operational by Q4 of 2024.
5M Group is a full-service commercial real estate development and private equity firm based in Chicago.
