Pacific Woodtech has acquired LP Building Solutions‘ engineered wood products business for $210 million.
The acquisition includes LP’s laminated veneer lumber and I-joist manufacturing facilities in North Carolina.
“Adding the EWP facilities in Golden, Wilmington, and Red Bluff to Pacific Woodtech’s existing EWP business propels our company to new growth,” said Pacific Woodtech’s CEO Jim Enright. “We aim to drive positive change at the cutting edge of engineered wood products, and this acquisition will provide a more streamlined and focused EWP resource for the industry. We are committed to making this a seamless transition, one that allows for the retention and care of current employees, clients, and suppliers and strengthens our position as a leading force in the EWP market going forward.”
LP’s financial adviser is UBS Investment Bank. LP’s legal advisers are Troutman Pepper and Fasken Martineau DuMoulin LLP.