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
Some Hardwood Sawmills Struggle To Stay In The Black
Hardwood lumber sales remained relatively slow, as a combination of lackluster overseas demand and the easy availability of lumber kept many buyers on the sidelines. Many mills tell us that the high prices they paid for timber a few months ago make it very difficult...
Lumber Supplier Canfor Loans $30 Million To Conifex
Canfor and Conifex say an investment agreement between the two lumber producers for $30 million has been completed. The loan by Canfor to Conifex Inc., a wholly-owned subsidiary of Conifex Timber is for five years, with the proceeds to be used for general corporate...
World’s Tallest Wood Building Now Under Construction
Cross laminated timbers are being used in mass quantities for the tallest wood building so far: a 121-unit, 10-story apartment complex in London. Architects Waugh Thistleton, CLT engineers Ramboll and developer Regal Homes, says the most exciting aspect of the...
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.