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Mergers and Acquisitions

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MJB Wood Group announces acquisition
MJB Wood Group becomes the largest MDF millwork manufacturer in the United States with the acquisition of Pacific MDF Products Inc. of Arkansas and Pacific MDF Products Inc. of South Carolina, collectively doing business under the brand Pac Trim. News of the assets purchase was announced June 2. The two facilities are located in El Dorado, Arkansas, and Clio, South Carolina. MJB said it expects all employees to remain in place. For more, click here...

Domain Timber announces acquisition
Domain Timber Advisors, LLC (“Domain Timber”), an SEC Registered Investment Advisor and an affiliate of Domain Capital Advisors, LLC (“Domain Capital”) headquartered in Atlanta, announced the purchase of Timbervest, LLC’s fund management business (“Timbervest”). The purchase was completed on May 30, 2017 and included the acquisition of the Timbervest infrastructure and personnel responsible for managing a 530,000-acre timberland portfolio with a market value of approximately $1 billion across the major timber producing regions of the U.S. In addition, the portfolio is also comprised of environmental restoration projects including mitigation and conservation banks across the U.S., with a market value of approximately $200 million.

Weyerhaeuser sells Uruguay holdings
Weyerhaeuser Company (NYSE: WY) today announced an agreement to sell its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual's Timberland Investment Group (TIG), including other long-term institutional investors, for $402.5 million in cash. The company anticipates it will incur minimal taxes in conjunction with the transaction. The transaction includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery. For more, click here...

Rayonier acquires Quebec-based Tembec
Tembec Inc. has agreed to a takeover offer from Rayonier Advanced Materials in an $807-million (U.S.) friendly deal that further thins out the ranks of Canada’s publicly-traded forest products companies. Nearly a decade after emerging from a crisis in North American lumber markets that resulted in its recapitalization, Montreal-based Tembec is selling to Jacksonville, Fla.-based Rayonier for $4.05 a share in cash or the equivalent in Rayonier shares. The $320-million offer, which also includes the assumption of $487-million in debt, represents a 37-per-cent premium to Tembec’s share price at Wednesday’s close. For more, click here...

Analyst speculates about Canfor, West Fraser merger
Recent activity at West Fraser Timber Co. Ltd. has revealed that British Columbian billionaire Jim Pattison owns a significant minority stake in the company, prompting speculations of a merger with rival Canfor Corp., according to an analyst. Pattison owns 10% of West Fraser, North America’s No. 1 lumber producer, said Paul Quinn, a paper and forest-products industry analyst at RBC Capital Markets, and already owns a majority stake in Canfor, North America’s No. 2 lumber producer. “That automatically brings up the idea of Canfor and West Fraser coming together,” said Quinn. “It’s an interesting idea, but would be very difficult to accomplish.” For more, click here...

Shareholders approve merger of LBM Advantage, IBSA
With overwhelming support of their shareholders, lumber and building material buying cooperatives LBM Advantage and Independent Builders Supply Association (IBSA) completed their vote today in favor of the Plan of Merger. “It is exciting to move this strategic merger forward. The shareholders have voted and confirmed their support to merge the membership and capabilities of these two great cooperatives,” notes Steve Sallah, president and CEO of LBM Advantage. “The increased breadth, the quality of our combined memberships and the regional diversification this merger offers will provide a greater value to our member-dealers today and into the future.” IBSA’s President Tim Johnson agreed, “The merger is a great fit and will improve the competitive position for all of our dealers. Our regions complement each other and provide the ability to execute National Buying Power while maintaining regional skills and market expertise.” A target date of fourth quarter 2017 has been set to complete the merger. The combined membership will span 34 states with 585 members and over 1,000 lumber yards.

BMC announces acquisitions
BMC Stock Holdings, Inc.has acquired substantially all of the assets and assumed certain liabilities of Texas Plywood & Lumber Company, Inc. and Code Plus Components, LLC. Through these acquisitions, BMC enhances its footprint in the Dallas/Fort Worth and Washington, D.C. markets, respectively. “We are very pleased to expand our product offerings and capabilities in both the Dallas/Fort Worth and Washington, D.C. areas with the acquisitions of TexPly and Code Plus,” said Peter Alexander, president and CEO of BMC. For more, click here...

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Friday, June 23, 2017


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