Resilience Capital Partners, a Cleveland-based private equity firm has completed the acquisition of Taylor Lumber Inc. and its subsidiaries. Terms of the transaction were not disclosed.
Founded in 1889, Taylor Lumber is one of the world's largest producers of Rift and Quartered Sawn lumber. The Company is headquartered in McDermott, OH and employs over 180 people. Taylor Lumber's products consist of a wide variety of lumber species including white oak, red oak, walnut, cherry, hard maple, ash and hickory. The Company's Plain, Rift and Quarter sawn lumber and hardwood flooring products are sold both throughout the United States and internationally.
"We are excited about the opportunity to acquire this very unique niche-oriented building products business and look forward to writing a new chapter of growth in the Company's 120 year history," said Ki Mixon, a Principal at Resilience Capital Partners. "This transaction falls in line with Resilience's situationally-focused investment philosophy of identifying historically strong companies and we are excited to be supporting such a dedicated group of employees," added Bassem Mansour, one of Resilience's Co-CEOs and founders.
The Taylor Lumber acquisition is consistent with Resilience's investment strategy of focusing on industries that it knows well. Resilience has an identified thesis in certain niche building products applications and Taylor Lumber fits squarely into that strategy. A core tenet of Resilience's investment philosophy is that well capitalized companies with excellent management teams focused on operational excellence can perform very well and gain market share in today's challenging environment. Taylor Lumber is this type of company. Resilience believes this platform has tremendous opportunity for value creation. The firm has similar strategies in industrial minerals, aerospace, consumer goods and capital equipment.
Taylor Lumber is the sixteenth platform investment for Resilience.