H.I.G. Capital, LLC says Baillie Lumber has acquired American Hardwood Industries, one of the investment capital firm’s holdings.
H.I.G. originally invested in American Hardwood Industries’ predecessor company, Augusta Lumber, in 2006. Since that time, American Hardwood has grown as an exporter of hardwood lumber to Asia and Europe, serving over 40 international markets. Multiple acquisitions under H.I.G. Capital doubled the size of its business. After a 2009 acquisition of the assets American Hardwood Industries Blue Triangle division in Everett, PA and its Graham Lumber division in Linden, TN, Selmer, TN and Fulton, MS, Augusta renamed as American Hardwood Industries.
Originally founded in 1955, American Hardwood says it is now the largest producer in its regions with over 100 million board feet of annual capacity across 11 sawmills and kiln drying facilities in Virginia and the Appalachian markets. It sells under the highly recognized Augusta, Blue Triangle and Graham Lumber brands.
Baillie Lumber, now an even larger regional provider and exporter of hardwood logs and lumber following the buy from H.I.G. Capital, was founded in 1923 by James A. Baillie. It’s facilities are located in Hamburg, Boonville, and Smyrna, NY; Leitchfield, KY, Titusville, PA, Donalds, SC; Cove City, NC; and Galion, OH.