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Platinum Equity Buys Weyerhaeuser's Wholesale Centers in Canada
June 5, 2007
Platinum Equity, Los Angeles, CA, has purchased Weyerhaeuser Company's wholesale products distribution centers in Canada and established the distribution business as a standalone company named Broadleaf Logistics Company.
Broadleaf distributes a wide range of building materials, including engineered wood products, oriented strand board, panels, framing lumber, and plywood panels; appearance grade and other cedar products; and specialty products such as exterior siding, insulation, rebar, and roofing.
Headquartered in Vancouver, British Columbia, Broadleaf is Platinum's first Canada-based business. Jacob Kotzubei, the Platinum Equity executive who led the acquisition, said the strategic plan for Broadleaf would focus not only on sustaining current operations, but also identifying potential opportunities for growth.
The transaction included all of Weyerhaeuser's distribution centers in Canada, including facilities in Brampton, Ontario; Calgary, Alberta; Dartmouth, Nova Scotia; Edmonton, Alberta; Kelowna, British Columbia; Montreal, Quebec; Ottawa, Ontario; Quebec City, Quebec; Regina, Saskatchewan; Saskatoon, Saskatchewan; Sudbury, Ontario; Timmins, Ontario; Winnipeg, Manitoba; St. John's, Newfoundland; Sussex, New Brunswick; Langley, British Columbia.
Under a distribution agreement between Weyerhaeuser and Broadleaf Logistics, Weyerhaeuser products will continue to be distributed by Broadleaf through those distribution centers.
Platinum Equity is a global private equity firm. It is busy in the industrial arena, recently buying Strategic Distribution, taking it from public to private, Textron Fastening Systems and steel group PNA Group Inc.