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Lester Building Systems finishes management buyout
Lester Building Systems, LLC, recently 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.
John Hill, president of Lester Buildings lead the buyout group of seven senior managers representing key operations of the company. "We are tremendously excited about this business and the opportunity to move forward with our growth objectives," Hill said.
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.
Operations will continue at the company headquarters in Lester Prairie and service centers in Charleston, Ill., and Clear Brook, Va.
Date: 11/22/04
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