Cleveland, Ohio, USA, 06 January 2012 -- /PRNewswire/ -- Resilience Capital Partners (www.resiliencecapital.com), a Cleveland-based private equity firm, has completed the acquisition of Weaber, Inc. Terms of the transaction were not disclosed.
Founded in 1941, Weaber is one of the nation's leading hardwood lumber producers. The company is headquartered in Lebanon, Pennsylvania, and employs more than 300 people. Weaber's products include surfaced four sides "S4S" boards, flooring, and molding products made from a variety of lumber species, including oak, poplar and maple. The company's products are sold throughout the United States and internationally.
Resilience was able to negotiate a letter of intent and navigate to a successful close in a short amount of time. "Resilience has been a great partner to work with," said Matt Weaber, company president. "They came into a difficult situation with our bank group and quickly provided both financial and operational stability during an extremely challenging time in the lumber industry."
"We are excited about acquiring a well-regarded market leader such as Weaber and look forward to writing a new chapter of growth in the company's proud 70+ year history under Matt's leadership," said Ki Mixon, a principal at Resilience. Weaber will be Resilience's second acquisition along with Taylor Lumber (acquired in 2010) under its platform investment focused on niche building supplies.
"The Weaber acquisition effectively complements the strengths of Taylor Lumber by broadening the merged companies' product mix and produces key operational and sales and marketing synergies," Mixon said.
The Weaber acquisition is consistent with Resilience's investment strategy of focusing on industries where it has an identified investment thesis. "A core tenet of our investment philosophy is that market leading companies that remain focused on operational excellence can perform very well and gain market share in today's challenging environment," said Bassem Mansour, one of Resilience's co-CEOs and founders.
Headquartered in Cleveland, Ohio, Resilience Capital Partners is a leading private equity firm with a team of in-house operating experts that bring large company resources to the lower middle market. Founded in 2001, Resilience's value-oriented investment strategy focuses on acquiring companies experiencing a variety of special situations within a broad range of industries. Since its inception, Resilience has invested in 22 companies under 16 platforms, together representing more than USD 2 billion in revenue and more than 5000 employees. Resilience manages private equity funds with capital under management in excess of USD 250 million. For more information, visit www.resiliencecapital.com.
About Weaber, Inc.
Headquartered in Lebanon, PA, Weaber, Inc. is one of the largest single-site hardwood lumber sawmills and secondary processors in the US. Weaber focuses on added value hardwood products sold to distributors, contractors, the DIY chains, and co-ops. Weaber manufactures a wide range of lumber products including S4S boards, flooring, kiln-dried random width lumber, mouldings, stair parts, finger jointed products, and edge-glued products.