SEATTLE, Wash., and AMERICUS, Ga., June 22, 2006 Laird Norton Company LLC and Habitat for Humanity International announced today a half-million dollar gift that will build Habitat homes in the five markets where Lanoga Corporation has building and lumber operations. The Laird Norton gift is made in honor of Lanoga's 10,000 employees as ownership of Lanoga transfers from Laird Norton to Fidelity Capital.
The sale of Lanoga was announced in January 2006. A month later, 250 members of the Laird Norton family gathered to observe the sale of Lanoga and inform Lanoga's leadership of its planned gift to Habitat for Humanity.
"Our gift of $100,000 for each division honors Lanoga's decade-long support for Habitat for Humanity which has taken the form over time of cash contributions, donated building supplies and volunteer labor," said Laird Norton CEO Jeff Vincent. Laird Norton's pledge also extends Lanoga's freshly minted three-year, $1 million commitment to finance Habitat housing projects nationwide.
The following five Lanoga divisions will work with regional Habitat for Humanity affiliates to select and manage a housing project in each of their markets: United Building Center in Winona County, Minn.; Spenard Builders Supply in Mat-Su Valley, Alaska; Lumbermens in Portland, Ore.; Home Lumber Company in Denver, Colo.; Dixieline Lumber Company in Southern California.
"Lanoga's longstanding commitment to Habitat for Humanity represents the building industry, reflects our employees' values, and respects our company's culture of contributing to the communities where we live and work," said Lanoga CEO Paul Hylbert. "We are thrilled that the Laird Norton family has chosen to honor us in a way that supports this legacy."
Lanoga employees have benefited directly from the affiliation with Habitat for Humanity, said Nicholas Lakin, director of advertising and liaison to Habitat for Humanity for United Building Center in Winona, Minn. "In addition to the satisfaction of building homes in partnership with people in need, our employee volunteers experience teamwork and leadership, learn building skills, and gain first-hand product knowledge by installing the materials that they sell everyday." As employee training goes, he said, "It doesn't get any better than that."
According to Laird Norton Company Family President Chalan Colby, the family sent a letter to the homes of all 10,000 Lanoga employees, thanking them for their years of service to Lanoga and announcing the $500,000 gift to Habitat that the privately-held, seventh-generation firm has made in their names.
Construction of the first home is expected to begin this fall in Alaska's Mat-Su Valley.
About Laird Norton, LLC
Founded in 1855, Laird Norton is a seventh generation, family-owned company headquartered in Seattle, Wash. Earlier in its history, Laird Norton family members were instrumental in the founding of Weyerhaeuser Company, The Potlatch Corporation and Boise-Payette Lumber which later became Boise Cascade Corporation. Its current operations include a real estate holding and management company; Laird Norton Tyee, a wealth management firm; and Wentworth Hauser and Violich, an investment advisory firm. For more information, visit www.lairdnorton.com.
About Lanoga Corporation
Lanoga operates over 325 lumber and building products distribution, manufacturing and fabrication centers throughout the Midwest and Western states. Sales in 2005 were $3.1 billion through United Building Centers in the Midwest and mountain states; Spenard Builders Supply in Alaska; Lumbermens in the Pacific Northwest, Central California and Arizona; Home Lumber in Colorado and Texas; Dixieline Lumber Company in Southern California; and F.E. Wheaton in the greater Chicago area.
On February 1, 2006, Lanoga was acquired by an affiliate of Fidelity Investments and joined with the Strober Organization to comprise Pro-Build, Inc., the country's largest professional dealer of building supplies with combined sales of over $5 billion through 400 locations nationwide.
About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in Americus, Ga., in 1976, Habitat has built more than 200,000 houses in nearly 100 countries, providing simple, decent and affordable shelter for more than one million people. For more information, visit www.habitat.org.
About Fidelity Capital
Fidelity Capital invests private equity on behalf of Fidelity Investments with a primary focus on majority-owned operating businesses in various industries including building supplies, transportation, hospitality, and human resources. For more information, please visit www.fidelitycapital.com.