EagleTree Capital, on behalf of its private equity fund EagleTree Partners V, has acquired Lignetics from Taglich Private Equity and Mill Road Capital. Lignetics will be a new platform investment in the EagleTree portfolio.
Lignetics is a consumer-focused wood pellet manufacturer with a production capacity of around 1.4 million tons per year. Annually, Lignetics diverts over 2 million tons of wood waste into renewable, value-add consumer products.
“EagleTree’s partnership will allow us to expand our manufacturing capacity to better serve our customers who depend on Lignetics for home heating,” said Brett Jordan, CEO of Lignetics. “We see incredible opportunities for growth in our BBQ pellet brands, Catalyst cat litter, and other new products in development, and we look forward to working with EagleTree to continue executing our strategy.”
Raymond James Consumer Investment Banking team acted as exclusive financial advisor, Dentons Durham Jones Pinegar acted as legal advisor, and Moss Adams acted as due diligence advisor to Lignetics. Jones Day acted as legal advisor and Alvarez & Marsal acted as due diligence advisor to EagleTree.