Former Weyerhaeuser unit reportedly for sale again
Tacoma-based Northwest Hardwood is up for sale by the private equity firm that bought it in 2011.
Seattle Times business reporter
Tacoma-based Northwest Hardwoods is up for sale — again, The Wall Street Journal reported Friday evening on its website.
American Industrial Partners bought the lumber manufacturer and seller from Federal Way-based Weyerhaeuser in 2011, paying $108 million, according to a regulatory filing at the time.
The Journal, citing unidentified people familiar with the situation, said American Industrial has hired bankers at Goldman Sachs to market the firm. The company reportedly could fetch around $700 million this time around.
Northwest Hardwoods produces 14 species of kiln-dried lumber, including oak, maple, cherry and walnut, and has 10 mills in seven states across the U.S.
American Industrial’s website says Northwest Hardwoods had revenue of $480 million and touts the company as a “leading North American hardwood manufacturing and distribution business serving global end markets.” The lumber is used for furniture, cabinetry, hardwood floors and other products.
Officials at American Industrial and Northwest Hardwoods could not be reached for comment late Friday.
Coral Garnick: 206-464-2422 or email@example.com. On Twitter @coralgarnick