New Wood Grain Colors Add Dazzle to Metal Cladding Applications
When the performance of metal is required but the look of wood is desired, Petersen’s 16 new wood grain colors are ready to dazzle. Petersen’s already vast spectrum of color options now increases to 62 standard choices with the addition of the 70% PVDF wood grain finishes, which are available on PAC-CLAD steel and aluminum wall panels.
Applications are unlimited and can include education, office, retail, entertainment, sports, recreational and industrial buildings, plus multi-family mixed-use structures and many others. New PAC-CLAD PVDF wood grain standard finishes include: Charwood, Medium Oak, Long Grain Oak, Dark Oak, Sycamore, Red Oak, Copper, Cherrywood Oak, Long Grain Cherry, Golden Maple, Sugar Maple, Siamese Bamboo, Light Oak, Golden Bamboo, Beechwood, and Whitewash Oak. Three wood grain patterns will be stocked in 24-gauge steel (Beechwood, Golden Bamboo, and Copper), while the 13 other colors will be available on 24- and 22-gauge steel, plus .032, .040, and .050 aluminum upon request and with extended lead times.
“When it becomes clear there’s unmet demand among PAC-CLAD customers for a particular product or color, Petersen takes action to meet those needs. The addition of these new colors illustrates Petersen’s continued investment in improving the products we offer, while growing in a smart, controlled manner. We want our customers to have the ability to satisfy all their material needs from one source,” said Mike Petersen, President. For more information, visit www.pac-clad.com or write to firstname.lastname@example.org.
Lester Buildings Announces Succession Plan
Lester Buildings said it has completed the first phase of its ownership succession plan. A Management Buyout Group consisting of Mark Billstrom (President), Melanie Hoof (Chief Financial Officer), Ted Helmink (Vice President, Engineering Services), and Tyler Bennett (Vice President, Manufacturing) has purchased a minority interest in the business. Included as a part of the transaction is an option to purchase the remaining interest in the business at a future date. The group will join John Hill, who previously owned 100% of the business, as the newly formed ownership group. Hill will sell his remaining interest in the business over the next few years as called for in a purchase option agreement executed by the parties.
This plan is the culmination of a yearlong set of discussions between the parties. It begins the process of successfully transitioning the business to a fourth generation of ownership. Lester was originally founded in 1947 by a group of local businessmen in Lester Prairie, Minnesota. It was purchased by Art Schwichtenberg in 1954, who was running the business for the group at the time. He owned the business until his retirement in 1986. He sold the business to Butler Manufacturing Company, who turned the successful regional business into a nationally recognized leader in post-frame construction. Butler sold the business in 2004 to a management group led by Hill. He and his original ownership team owned and operated the business for much of the intervening years, with Hill buying out the last remaining original minority owner in 2018.
Hill made the following comments regarding the incoming ownership group: “As I begin to think about my own retirement, it is important that I take the necessary actions to ensure the successful transition of Lester to its next generation of ownership. Each of the new minority owners has been active in the business for several years, lives in a community close to where the company operates, is relatively young, and is well-respected by employees and customers alike. I have a high degree of confidence that this move will position the company for further growth and prosperity for many years to come.”
New owner Mark Billstrom commented, “The previous three generations of ownership have positioned Lester as a respected national leader in the post-frame construction industry. We are excited for this opportunity to continue the work of our predecessors. Lester’s people and work culture are second to none. Their experience, abilities, and technical knowledge, along with the strong reputation of the Lester brand, give us confidence that Lester will continue to grow in both traditional and non-traditional post-frame markets.” FBN