UFP Industries Acquires 50% Stake In Dempsey Wood Products
UFP Industries has announced that its affiliate, PalletOne, Inc., has acquired a 50% equity stake in South Carolina sawmill company, Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50% of Dempsey after three years.
Founded in 1988 by Ronald Dempsey, Dempsey Wood Products produces kiln-dried lumber, pallet lumber, and other industrial wood products from a single location in Orangeburg, South Carolina. Dempsey had 2021 sales of $68.9 million, and its management team, including Ronald Dempsey and his son, Parker, will continue in management roles.
The industrial lumber that Dempsey produces is a key product for pallet operations and has been in short supply as larger mills produce less of this type of lumber. PalletOne’s investment in Dempsey helps it secure and grow a critical long-term supply source. In 2021, five of Dempsey’s 10 largest customers were UFP affiliates, and nearly 40 other UFP locations could be served by Dempsey.
“Having supplied UFP companies for many years, we’re proud to join forces and contribute to their future growth plans,” comments Parker Dempsey. “Together we can expand our capacity and industrial offerings. This gives our company and our employees exciting new growth opportunities.”
Latest News
IFG Closing Tricon Timber
Officials with Idaho Forest Group announced at the end of August the closure of its St. Regis, Mont. sawmill in late November. The company had acquired the mill in 2017 from Tricon Timber. A post on IFG’s website from August 2019 noted the company had added a sprinkler system, replaced some older equipment and…
NewLife Gains Full Production
NewLife Forest Restoration has ramped up production at its new engineered wood products plant in Bellemont, Ariz., while also increasing forest restoration work in service of its 4 Forest Restoration Initiative (4FRI) Phase 1 Forest Service stewardship contract that seeks to thin and treat…
Labor, Materials Issues Cause Project Delays
The same labor availability issues that have plagued forest products manufacturers since the COVID pandemic began are also plaguing builders as the economy seeks to rebound. According to a survey of more than 2,000 construction companies…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.