Wynnchurch Capital sells Oregon lumber business
ROSEMONT -- Wynnchurch Capital LP Thursday said it has sold its majority interest in Rosboro Holdings Inc., a lumber company based in Springfield, Oregon, to One Equity Partners.
Financial terms of the transaction were not disclosed. However, Wynnchurch said it continues to own a significant minority stake in the company.
Rosboro is a manufacturer of engineered wood products including stock and custom glued laminated timber ("glulam") and lumber used in residential and light commercial construction.
Following Wynnchurch's purchase of the company in December 2016, Rosboro successfully separated from its captive timberlands, completed the acquisition of Western Structures, scaled the business significantly, built out its sales force to drive demand, and made investments to improve operations and grow its glulam product offerings, the private equity firm said.
"Rosboro represented an opportunity to invest in a company with a leading market position, differentiated product offering and long-standing customer relationships," said Brian Crumbaugh, partner at Wynnchurch. "We are proud of the management team's accomplishments during our ownership period and are excited to continue our partnership with management during Rosboro's next phase of growth."