One Equity Partners (OEP), a middle market private equity firm, announced that it has completed the previously announced acquisitions of USNR and Wood Fiber Group. OEP reports it subsequently merged the two businesses, with projected 2021 revenues greater than $500 million.
JB Cherry, Senior Managing Director, OEP, comments, “Combining these two great companies that are headquartered seven miles apart with a long history of collaboration and complementary customer bases is a natural next step to drive value for the businesses and their customers.”
Headquartered in Woodland, Wash., USNR provides comprehensive automation and technology system integration for wood products mills. The company boasts the largest global installed base of wood processing equipment, serving more than 1,800 customers operating 2,500 mill sites in 56 countries.
Ridgefield, Wash.-based Wood Fiber Group acts as a “one-stop shop” provider of leading cutting tool products under brands including Simonds International, Burton Saw & Supply, BGR Saws, Cut Technologies, Global Tooling, U.S. Blades, Armstrong Manufacturing, and Wright Machine Tool. The company has 12 facilities across all the major North American wood processing regions.
“We at USNR are so excited to come together with One Equity Partners and our great friends at Wood Fiber Group,” says Dale Brown, CEO of USNR. “OEP’s ambitious vision to combine these two enterprises and its established track record of successful investments in industrial companies immediately made the firm a preferred partner as we evaluated pathways to continued growth.”
“We’re confident this merger will benefit customers of both USNR and Wood Fiber Group and enable us to collectively reach our full potential when it comes to service and innovation as we continue meeting the strong demand for lumber processing technology and mission-critical aftermarket parts and supplies,” adds Craig Tompkins, CEO of Wood Fiber Group.
One Equity Partners is a middle market private equity firm focused on the industrial, healthcare and technology sectors in North America and Europe. Since 2001 the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt, and Amsterdam.
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