February 9, 2007
For additional information contact:
Steve PonTell, Chairman of the Board, Western Door
Western Holding, Inc. to Acquire Sierra Wholesale Hardware
RIVERSIDE, CA, Feb 9, 2007 - Western Holding Inc., a provider for carpentry products and installation in Southern California, today announced an agreement for Western Holding Inc. to acquire Sierra Wholesale Hardware for an undisclosed amount. Sierra Wholesale Hardware is a privately held door, frame and hardware manufacturer in San Bernardino that works with commercial developers in Southern California and internationally.
The acquisition of Sierra Wholesale Hardware will complement and extend the Western Holding Inc. carpentry service portfolio. Western Holding Inc. currently has two main lines of business; Western Door, supplying home builders with products and installation services for over 30 years; and a division of Western Door, Western Service supplying consumer's carpentry services for replacements and upgrades in their existing homes and custom built homes. The acquisition diversifies the Western Holding Inc. carpentry family by now offering carpentry products and installation for retail, industrial, office and mixed use commercial/residential developments.
"Western Holding's acquisition of Sierra Wholesale Hardware is a positive step in the changing building industry for all of our employees, customers and partners," said Cliff Sherwood, president of Western Door, "Our knowledge in carpentry products now merged with our ability to provide all sectors of building development will create a synergy helping us to grow and provide new opportunities in Southern California."
About Western Holding Inc.
Western Holding, Inc. was incorporated in 2005 becoming the parent company of Western Door. It is a 100% employee owned. The president and CEO of Western Holding Inc. is Doug McAllister. In addition to Western Door, Western Holding also owns New West Development LLC which has investments in residential development. Western Holding Inc. provides management services to its subsidiaries.
About Sierra Wholesale Hardware
Sierra Wholesale Hardware was founded in 1946 first as a small hardware store on Highland Ave. in San Bernardino, then in 1969 grew into the commercial hardware sector where its focus remains today. Owner and president, Frank Lyman started with the company as a floor salesman and has since managed his company through many challenges throughout his 40 years there.
Mr. Lyman will remain with the company as a consultant for at least five years. Sierra Wholesale Hardware currently has 30 employees with local clients such as Stater Bros. for over 35 years, international PriceSmart for 20 years, and Southern California schools and hospitals. Sierra Wholesale Hardware is also the prime distributor of Ingersoll Rand Security and Technology. Mr. Lyman said "I see the merging with Western Door as an exciting prospect for Sierra Wholesale Hardware's growth in residential and mixed use commercial developments."