Costa Mesa, California, USA, 11 May 2010 -- (BUSINESS WIRE) -- JWTR, LLC, a timberland management company based in Klamath Falls, Oregon, completed transactions to raise capital on 04 March 2010. Proceeds were used to refinance JWTR’s existing credit facility and were funded in two tranches, one with GE Capital Finance and one with an undisclosed investor.
McGladrey Capital Markets initiated the transaction, led the negotiations, and acted as exclusive financial advisor to JWTR. McGladrey Capital Markets also advised JWTR on biomass alternatives, including introducing biomass plant developers and advising JWTR on a long-term biomass fuel supply agreement.
JWTR has entered into a transformational long-term biomass fuel supply agreement to facilitate construction of a new 40 megawatt biomass power plant. This plant will consume waste from the timber harvesting and forestry management processes, which had previously been burned in the woods.
“This is a transformational period for JWTR as it transitions from a traditional timber company into a renewable energy fuel supplier by capitalizing on its ability to provide attractive volumes of high quality biomass fuel on a long-term basis,” said Bruce Manchester, senior managing director and head of McGladrey Capital Markets’ Basic Industries Group.
Based in Klamath Falls, Oregon, JWTR, LLC owns and manages more than 600,000 acres of timberlands in southern Oregon and northern California. The timber harvested from JWTR’s holdings is primarily used for building products.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to USD 1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions, and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB - News), a preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, California. The firm is a member of FINRA.