CanWel completes Oregon pressure treating deal
CanWel Building Materials Group Ltd., the Vancouver, British Columbia-based supplier of lumber, forest products, and building materials, has completed its acquisition of Superior Forest Products treating division.
The deal includes the lumber pressure treating plant, equipment, and related business owned by Superior and its affiliates. Located in Junction City, Ore. the plant is under construction and is expected to be operational by the end of 2018.
Although specific of the move were not disclosed, CanWel said the purchase price for the plant was paid with cash from the company’s existing credit facilities.
According to CanWel CEO and president Amar Doman, this acquisition will complement the manufacturer’s existing operations in California and Hawaii while expanding its footprint “into the strong Oregon and Washington state markets.”
“This strategic acquisition fits right in line with our strategy of adding scale and volume to the U.S. West Coast in pressure treated lumber and specialty wood products, and is also expected to be accretive for the Company in 2019,” Doman said.
Last October CanWel acquired Honsador Building Products – Hawaii’s largest producer of pressure-treated lumber – in an $82.3 million deal. Honsador operates 14 facilities across Hawaii and distributes building materials and electrical supplies, while serving the residential, commercial, and military markets.
The deal includes the lumber pressure treating plant, equipment, and related business owned by Superior and its affiliates. Located in Junction City, Ore. the plant is under construction and is expected to be operational by the end of 2018.
Although specific of the move were not disclosed, CanWel said the purchase price for the plant was paid with cash from the company’s existing credit facilities.
According to CanWel CEO and president Amar Doman, this acquisition will complement the manufacturer’s existing operations in California and Hawaii while expanding its footprint “into the strong Oregon and Washington state markets.”
“This strategic acquisition fits right in line with our strategy of adding scale and volume to the U.S. West Coast in pressure treated lumber and specialty wood products, and is also expected to be accretive for the Company in 2019,” Doman said.
Last October CanWel acquired Honsador Building Products – Hawaii’s largest producer of pressure-treated lumber – in an $82.3 million deal. Honsador operates 14 facilities across Hawaii and distributes building materials and electrical supplies, while serving the residential, commercial, and military markets.