Westbrook wood products firm acquired by N.Y. company
A New York wood products company has acquired a 100-year-old Westbrook wood products company this month for an undisclosed price.
H. Arnold Wood Turning of Mamaroneck, N.Y., acquired H.A. Stiles Co. three weeks ago, according to Stephen Vlachos of the Caswell Vlachos Group in Portland. He says that his company brokered the deal after H.A. Stiles was put on the market by its parent company, Locke Mills-based Saunders Brothers, earlier this spring.
Vlachos says the company, which employs five people, had been on the market for 60 days and that four companies, including H. Arnold Wood Turning, expressed interest in buying it.
As far as he can tell, the change in ownership has not affected the Westbrook operation at all. "They hired all the people and they have maintained the office in Westbrook," Vlachos says.
H. Arnold Wood Turning is a family-owned business that was founded in 1919 and is owned by Bruce Arnold and his son, Jonathan. According to the company's website, it provides a range of manufactured wood products.
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