About LDI
Company •
History • Community • Management •
Board
Our History
In 1912, Howard Lacy co-founded U.S.
Corrugated-Fibre Box Company in Indianapolis, establishing the
foundation for growth that has lasted through four generations.
Howard Lacy II assumed leadership responsibilities for the company
in 1952. Upon his death in 1959, his wife Edna Lacy, helped by
their son, Andre, stepped in to
run the business. In 1972, the company name was changed to Lacy
Diversified Industries to better reflect our diversification strategy and national presence. A third generation
took the helm in 1978 when Andre was named
President of Lacy Diversified Industries. Other family members of
the organization include Margot Lacy Eccles, who serves as Vice
President Community and Shareholder Relations, J.A. Lacy,
fourth-generation and President of FinishMaster, and Peter Lacy,
fourth-generation, and Vice President Operations of FinishMaster.
For the past 30 years, LDI has focused on creating value by
acquiring and building value-added wholesale
distribution businesses.
U.S Corrugated-Fibre Box Company
(sold)
Indianapolis, Indiana
- Established
in 1912
- Grew via
organic growth and add-on acquisitions
- National
manufacturer of corrugated cardboard boxes
- Capitalized
on new transportation regulations that allowed corrugated
cardboard containers (boxes) to be used for rail shipments
(replacing wooden crates)
- Sold to a strategic
buyer in 1984
– cementing LDI’s "build and hold" strategy with a 72 year hold
period
Jessup Door Company (sold)
Dowagiac, Michigan
- Acquired in
1973
- National
manufacturer and distributor of high quality wooden doors,
molding and trim for premium home construction
- Grew sales to $36
million
- Sold to a
strategic buyer in 1996 after 23 years of ownership
Major Video Concepts (sold)
Indianapolis, Indiana
- Acquired in
1987
- National
distributor of VHS & DVD movies to independent video rental
retailers
- From a
regional platform, grew business organically and via several
add-on acquisitions to $350 million in sales and operations in
all 50 states
- Sold to a
strategic buyer in 2000 after 13 years of ownership
Answer Products (sold)
Valencia, California
- Acquired in
1990 from its founder
- International
designer and manufacturer of premium branded “Manitou” bicycle
suspension components and off-road motorcycle apparel
- Production
facilities in California and Taiwan
- Grew sales
organically and via acquisition to over $50 million
- Employed over
100 people
- Transferred
the motorcycle-related apparel business and brand names to
Tucker Rocky (“Answer” off-road gear)
- Sold
to a private equity firm in 2004 after 14 years of ownership
Tucker Rocky Distributing
(own 100%)
Fort Worth, Texas
- Acquired
as a regional platform in 1989
- Grew the business
organically and via acquisition into one of the two largest
national distributors of powersports apparel, parts and
accessories in the U.S.
- Primarily
sells to motorcycle dealerships in the U.S. but also exports
worldwide
- Acquired or
developed many leading proprietary brands of motorcycle and ATV apparel
& accessories, including Malcolm Smith Racing (MSR), Firstgear,
Answer Racing, River Road and Quadboss
- Uses seven
distribution centers to facilitate next-day ground shipment
coast-to-coast
- Has over 600
employees and stocks over 75,000 SKUs
FinishMaster (own
75%)
Indianapolis, Indiana
- LDI entered
the industry in 1995 by purchasing a $12 million spin-out of an
automotive parts company
- Acquired
majority control of FinishMaster in 1996
- Largest
national distributor of aftermarket automotive paint to
collision repair shops in the $2.5 billion U.S. automotive
refinishing industry
- In addition to
organic growth, completed several significant add-on
acquisitions in 1997-1998 which tripled sales and added
integration challenges such as three distinct corporate
cultures, five different computer systems and numerous sales
compensation programs
- Integrated businesses with steady execution to become the
largest distributor in the industry with over 1,700 employees,
three distribution centers, more than 180 branch locations and a
truck fleet that can reach most of its metropolitan customers in
less than 60 minutes
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