Media INFO
Contact: Tom Borgman, Marketing Manager
320-395-5227 or
tborgman@lesterbuildings.com
Bluescope Steel, limited
Contact: Jennifer Goldston
816-512-2304 or
goldstoj@fleishman.com
Lester Building Systems, LLC Completes Management Buy-Out
August 2, 2004
Lester Prairie, MN
Lester Building Systems, LLC is pleased to announce that it has successfully completed a management buyout of the Lester business from Butler Manufacturing Company, a subsidiary of BlueScope Steel Limited, of Australia. Terms of the transaction were not disclosed.
Lester manufactures pre-engineered post-frame building systems for the light commercial, equestrian, suburban, agriculture and livestock building markets. The structures are erected by independent building contractors, or, in some areas, factory-direct construction crews. The company has grown to be one of the United State's largest suppliers of buildings, covering an area of thirty states from the Rocky Mountains to the East Coast.
John Hill, president of Lester Buildings leads the buyout group of seven senior managers representing key operations of the company. Commenting on the transaction, Mr. Hill states, "We are tremendously excited about this business and the opportunity to move forward with our growth objectives. The company is in a unique position to take off, having used the last few years to completely retool itself from the ground up - distribution, product, technology - you name it, we've upgraded and are much more efficient in a very competitive industry. We've updated our manufacturing systems, we're sized right and have reduced costs. Best of all, we continue to see positive market impact from the cumulative effects of this effort. We are excited to begin this new phase of our history!"
As before, the company will continue operations under two names: Lester Building Systems, LLC, the manufacturing company that designs, engineers and manufactures structures to be erected by independently-owned contractors. And Lester Buildings, LLC, the factory-direct sales and construction arm. "The Lester name, especially in our core mid-western states, is associated with top-quality and value. We intend to build upon the brand as we move forward," stated Mr. Hill.
Lester dealers, suppliers and end-customers can expect a virtually seamless transition with a continuation of all operations including the company headquarters in Lester Prairie and service centers located in Charleston, Illinois, and Clear Brook, Virginia. "And folks should know it will be business as usual in terms of our major initiatives such as the continuing refinement of Improv®, our industry-leading design and pricing software as well as expansion of our eBuildings pricing website and ongoing product enhancements," Hill concludes.
For more information, please visit www.lesterbuildings.com.
Butler Manufacturing Company was acquired by BlueScope Steel Limited in April 2004. BlueScope Steel is the leading steel company in Australia and New Zealand, supplying flat steel products to customers in the building and construction, automotive, packaging and general manufacturing industries. BlueScope Steel also has a 50 percent share in a steel mill in Delta, Ohio.