Blue Wolf Capital Partners LLC, a New York-based private equity firm, announced that Blue Wolf Capital Fund III, L.P., through an affiliate, has acquired Suwannee Lumber Co., a manufacturer of softwood lumber producing Southern Yellow Pine products used primarily in decking and durable outdoor construction. The company is headquartered in Cross City, FL, with additional operations in Lake City, FL, and Adel, GA. Terms were not disclosed.
CEO Frank "Bump" Faircloth and President Daniel Dickert, invested alongside Blue Wolf and will remain with the company, as will others on the management team. Michael Ranson and Charles Miller, partners at Blue Wolf, will join Suannee’s board of directors.
Adam Blumenthal, managing partner at Blue Wolf, said, "Strong regional players like Suwannee with solid business models that can also benefit from strategic operational improvements are ideal investments for Blue Wolf. Suwannee is well-positioned in an industry that is showing many positive trends."
Faircloth said, "We are excited by the opportunity to partner with Blue Wolf. Their operating experience and vision will be invaluable as we continue to modernize our operations and increase capacity in order to take advantage of the rebounding housing construction and remodeling markets."
