Blue Wolf Capital Partners has acquired substantially all of the assets of Suwannee Lumber Co., a manufacturer of softwood lumber. The company’s CEO, Frank “Bump” Faircloth, and President, Daniel Dickert, invested alongside Blue Wolf and will remain with the company as will others on the management team. Blue Wolf made the investment in Suwannee Lumber through Blue Wolf Capital Fund III, LP.
Suwannee Lumber is a manufacturer of softwood lumber producing Southern Yellow Pine products used primarily in decking and durable outdoor construction. Suwannee operates a 150 million board foot sawmill operation and supplies decking and dimensional lumber to customers in the Southeast, Mid-Atlantic and Northeast United States. Suwannee also operates a ground cover division that provides manufacturing and bagging of various mulch and soil products as well as a retail hardware store (Florida Forest Products) and firewood operation (Lite My Fire). The company was founded in 1954 and is headquartered in Cross City, FL, with additional operations in Lake City, FL and Adel, GA (www.suwanneelumber.com).
“Strong regional players like Suwannee with solid business models that can also benefit from strategic operational improvements are ideal investments for Blue Wolf. Suwannee is well-positioned in an industry that is showing many positive trends – we are looking forward to working with Bump and his team to build upon the company’s success,” said Adam Blumenthal, Managing Partner at Blue Wolf.
Blue Wolf invests in companies in which effective management of relationships with complex constituencies, such as government and labor, can change organizations and create value. The firm’s investment criteria are minimum revenues of $25 million; minimum transaction size of $20 million; and a minimum investment size of $10 million. Blue Wolf focuses its efforts on companies based in and doing the bulk of their business in the United States and Canada. The firm is headquartered in New York (www.blue-wolf.com).
“We are excited by the opportunity to partner with Blue Wolf. Their operating experience and vision will be invaluable as we continue to modernize our operations and increase capacity in order to take advantage of the rebounding housing construction and remodeling markets,” said Mr. Faircloth.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-1-13
