Blue Wolf Capital Partners LLC, the New York-based private equity firm, today announced that Blue Wolf Capital Fund III, L.P., through an affiliate, has acquired substantially all of the assets of Suwannee Lumber Co., 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 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 also benefit from strategic operational improvements are ideal investments for Blue Wolf. Suwannee is well-positioned in an industry that is showing many positive trends – we 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 continue to modernize our operations and increase capacity in order to take advantage of the rebounding housing construction and remodeling markets.”
Charles Miller added, “Suwannee is a well-run company with excellent long-term customer relationships. It is also a leading local employer with many dedicated employees. These factors provide a solid base for growth and for building even stronger networks that ensure the company’s continued leadership in the local markets and beyond.”