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Mergers and Acquisitions

Do you have information that should appear in Daily WoodWire? Send it to Jeff Redd, WoodWire editor, by fax at 1-800-874-7979, or e-mail to

PalletOne acquires Texas manufacturer
PalletOne, Inc., America's largest new pallet manufacturer, acquired North East Texas Pallet, a pallet manufacturer located in Clarksville, Texas. Organized in 2001 from predecessor companies, PalletOne now operates 17 locations in nine states and manufactures new pallets, repairs and recycles used pallets and produces a variety of other wood products. For more, click here...

LBM Advantage acquisition of IBSA finalized
The merger of IBSA Inc. into LBM ADVANTAGE Inc., approved by the shareholders of each group earlier this year, has been completed as of October 1. The combined Advantage shareholder base bands together $6 billion of retail sales from 585 member companies operating 1,100 locations in 35 states. For more, click here...

Roseburg completes acquisition of timberlands in Southeast
Roseburg Resources Co., Springfield, Ore., is pleased to announce the acquisition of approximately 158,000 acres of investment-grade timberland in the southeastern United States from Forest Investment Associates (FIA), a timberland investment management organization. The timberland is located around Roanoke Rapids, largely within the coastal region of North Carolina and southeastern Virginia, and has a strong history of professional management. The acquisition was completed Sept. 28, 2017. For more, click here...

Binderholz Group acquires Klenk Holz AG
The Austrian binderholz Group, which has its headquarters in Fügen, has reached a binding agreement with The Carlyle Group to acquire the German sawmill and timber processing company Klenk Holz AG based in Oberrot. The purchase agreement was signed today, as announced by both companies. The transaction is expected to be concluded at the start of November 2017, a conclusion dependent on the agreement of the competition authorities. For more, click here...

Wilsonart to acquire KML
Wilsonart Engineered Surfaces announced that it will acquire KML, the Tacoma-based manufacturer of decorative surfaces and panels. According to Vice President, Product Management, Ron Ubertini, this acquisition supports the continued growth of Wilsonart’s Coordinated Surfaces program with expanded capacity for the manufacturing of Thermally Fused Laminate (TFL) panels. For more, click here...

West Fraser acquisition of Gilman completed
West Fraser Timber Co. Ltd. announced today that the acquisition of six sawmills and a fingerjoint mill from the Howard Gilman Foundation and other shareholders has been completed.

FEA acquires Wood Markets
Forest Economic Advisors, Littleton, Mass., recently completed the purchase of International Wood Markets Group, Vancouver, B.C. With this acquisition, FEA welcomes Russell Taylor to its team of analysts and adds to its sources of global information, including: its proprietary global cost benchmarking database; the annual Global Softwood Log & Lumber Conference in Vancouver; the China Bulletin Monthly Newsletter; the Wood Markets Monthly International Reports, and several other publications and industry events. For more, click here...

McCoy's buys a new approach to reload
McCoy’s Building Supply, the 86-unit Texas-based lumberyard company, announced today that it recently purchased the former C-R Reload Center, Inc. located in Burnet, Texas. Terms of the deal were not released. C-R Reload had provided reload and lumber storage services for McCoy’s and other Central Texas customers since 2002. Under McCoy’s ownership the facility will operate as MC Reload with a focus on reducing costs and adding distribution efficiencies to McCoy’s Building Supply stores and their customers throughout a large part of McCoy’s network of Texas stores. The facility will also provide reload and storage services to third-party users. For more, click here...

Tembec shareholders approve takeover by Rayonier
Shareholders in Quebec forestry firm Tembec have overwhelmingly endorsed a friendly takeover offer by Rayonier Advanced Materials, a chemical products company based in Florida. About 95% of shareholders who voted were in favour of the deal, valued at C$1.1 billion — well above the two-thirds support required. The agreement, which is subject to regulatory approvals, is expected to close by the end of year. For more, click here...

West Fraser enters agreement to purchase Gilman
West Fraser Timber Co. Ltd. today announced that it has entered into an agreement to acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders for approximately US$430 million, subject to certain post-closing adjustments. The Gilman Companies are comprised of six sawmills and a fingerjoint mill in Florida and Georgia as well as an administrative office in St. Marys, Georgia. The transaction, which is also subject to U.S. regulatory approvals and customary conditions, is anticipated to close in the third quarter of 2017. For more, click here...

Rayonier ups offer for Tembec, wins support of holdouts
Rayonier Advanced Materials Inc. has raised its takeover offer for Tembec Inc. to win the support of two of the forestry company's largest shareholders who had threatened to block the friendly deal. Rayonier and Tembec (TSX:TMB) said Oaktree Capital Management LP and Restructuring Capital Associates LP have now agreed to support the takeover. The deal requires support from a two-third majority vote at a shareholder meeting Thursday. For more, click here...

Regulators asked to ensure fair vote on Tembec takeover
For a prospective buyer, Rayonier Advanced Materials, and for a prospective seller, Tembec, July 19 wasn’t a great day. Indeed it’s a continuation of a number of bad days as market participants weighed in on their planned US$807 million transaction, a deal that’s supposed to be put to Tembec’s shareholders at a meeting next week. As for bad news, Tembec’s two largest shareholders — Oaktree Capital Management and Restructuring Capital Associates, which between them own about 37% — have said they won’t support the transaction which requires backing from two-thirds of shareholders. For more, click here...

Rayonier reaffirms commitment to acquire Tembec
Rayonier Advanced Materials Inc. (the “Company” or “Rayonier Advanced Materials”) (NYSE: RYAM) today reaffirmed its commitment to acquire Tembec Inc. (“Tembec”) (TSX: TMB) on the terms previously agreed with Tembec. The Company believes that the previously announced arrangement consideration of C$4.05 in cash or 0.2302 of a share of Rayonier Advanced Materials common stock per Tembec common share—which is subject to proration so that approximately 63% of the aggregate consideration is paid in cash and 37% is paid in Rayonier Advanced Materials stock—provides compelling value to Tembec shareholders. The Company does not intend to increase the consideration offered to Tembec shareholders. For more, click here...

Weston Forest acquires Great Northern Lumber of Michigan
Steve Rhone, President, has announced that Weston Forest, Mississauga, Ont., has acquired the assets of Great Northern Lumber of Michigan, LLC, and will be operating the facility as Northern Industrial Woods Inc. The two companies have had a long-standing relationship, and Great Northern extends the reach of Weston's remanufacturing capabilities.

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Friday, October 20, 2017


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