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
The Great (Okay, Not So Great) Debate
Story by Rich Donnell, Editor-in-Chief USDA’s Animal and Plant Health Inspection Service (APHIS) has approved ArborGen permit applications for planting and growing genetically engineered (GE) eucalyptus trees in several Southern states. APHIS reached a finding of no...
Seeking Signs Of Sustainable Recovery
Story by Dan Shell, Managing Editor Right now housing starts are up for the past three months, and after a revision of March statistics to an annual rate of 636,000, housing starts are currently at their highest level since November 2008. Of course, it’s important to...
Sawdust Musings
Story by Jennifer McCary, Senior Associate Editor During the last 25 years, sawdust, trimmings and shavings have gone from being a waste disposal problem to being a revenue stream that helped some mills keep running even in the face of declining lumber demand. Today...
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.