Blue Wolf Capital Partners LLC, the New York-based private equity firm, today announced that Blue Wolf Capital Fund III, L.P. (“Blue Wolf”), through an affiliate, has acquired substantially all of the assets of Suwannee Lumber Co. (“Suwannee” or “the Company”), a manufacturer of softwood lumber producing Southern Yellow Pine products used primarily in decking and durable outdoor construction. The Company is headquartered in Cross City, FL, with additional operations in Lake City, FL and Adel, GA. Terms of the transaction were not disclosed.
The Company’s CEO, Frank “Bump” Faircloth, and President, Daniel Dickert, invested alongside Blue Wolf and will remain in their current positions with the Company as will others on the management team. Michael Ranson and Charles Miller, Partners at Blue Wolf, will join the Company’s Board of Directors.
Adam Blumenthal, Managing Partner at Blue Wolf commented, “Strong regional players like Suwannee, with solid business models that can benefit from strategic operational improvements, are ideal investments for Blue Wolf. We consider Suwannee well-positioned in an industry that has shown consistent demand and are looking forward to working with Bump and his team to build upon the Company’s success.”
Mr. Faircloth said, “We are excited by the opportunity to partner with Blue Wolf. Their operating experience and vision will be invaluable as we take additional steps toward modernization and increasing capacity to take advantage of the rebounding housing construction and remodeling markets.”
Michael Ranson added, “Suwannee is a well-run Company with excellent long-term customer relationships. It is also a leading local employer with many dedicated employees. Those factors provide a solid base from which to capitalize on Suwannee’s strengths and build even stronger networks that ensure the Company’s continued leadership in the local markets and beyond.”
About Suwannee Lumber Co.
Suwannee Lumber Co., founded in 1954, is a leading independent manufacturer of softwood lumber in the Southeastern United States. 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). For additional information, please visit www.suwanneelumber.com.