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
B.C. Sawmill Study Makes Surprise Finding On Using Moisture To Prevent Explosions
The smallest-sized wet wood dust is just as explosive as dry wood dust from B.C. sawmills, according to a report prepared by FPInnovations for the provincial sawmill sector. The surprise finding — which raises questions about the usefulness of misting at sawmills —...
Wood Science 101: Where Does Lumber Come From?
One of the more interesting phenomena of today's world is the insulation we have from the source of our sustenance, or raw materials. Many modern folk would have a hard time explaining where the natural gas in their home comes from, or how bread is made, or even what...
U.S. Homebuilders Face High Lumber Prices
Total housing starts rose 35% year-over-year in the first quarter of this year, according to data from Deloitte. Single-family home construction contributed 500,000 jobs to the economy year-over-year in July, implying a thriving builder market. But many homebuilders...
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.