Jul 21 2014
Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, today announced the acquisition of Northwest Hardwoods, Inc., the leading manufacturer and distributor of North American hardwood lumber, from American Industrial Partners.
Headquartered in Tacoma, WA, NWH was successfully carved-out of Weyerhaeuser by AIP in 2011. NWH serves the repair and remodel, residential construction, industrial, and export markets, with operations strategically located near high production hardwood timber baskets and key shipping ports. The Company converts hardwood logs into rough cut and kiln dried lumber, and then planes and sorts the lumber boards into an array of quality grades for appearance wood applications. The kiln drying process establishes consistent dimensional stability and improves the boards' visual characteristics and finish. NWH is also one of North America's largest importers of tropical hardwood lumber and hardwood plywood panels and operates a global distribution network to deliver a full complement of hardwood products to over 1,660 customers worldwide. NWH's lumber is a primary material used in the manufacturing of a multitude of products including: kitchen cabinets, hardwood flooring, molding, millwork, commercial interiors, furniture, recreational vehicles, musical instruments, railroad ties, and pallets.
Edmund J. Feeley, Managing Director of Littlejohn, said, "We are thrilled to acquire such a high quality business that fits well within our investment focus. NWH has built a strong business and an outstanding reputation for working closely with customers and providing quality hardwood products. We look forward to building its geographic reach and further enhancing its exceptional customer service."
Richard Hoffman, Partner at American Industrial Partners, said, "We are grateful to have had the opportunity to partner with an extraordinary management team led by TJ Rosengarth in our carve-out of NWH from Weyerhaeuser Company three years ago."
TJ Rosengarth, President and CEO of NWH, noted "Our customers have been extremely loyal over many decades and we very much appreciate that. We reward our customers' loyalty by providing innovative products and exceptional service at affordable prices." Mr. Rosengarth went on to say, "While the ownership group has changed, Northwest Hardwoods will continue to be the same great company our customers have valued for many years. We are excited to be working with Littlejohn."
Source: http://www.littlejohnllc.com/