Lynx is pleased to announce the synergistic acquisition of Buse Timber & Sales Inc.
February 2, 2023
February 2, 2023 – Toronto, ON/Everett, WA – Lynx is pleased to announce the synergistic acquisition of Buse Timber & Sales Inc. (“Buse” or “the Company”), a sawmill founded in 1946 by brothers Norm and Delmer Buse, and located in Everett, Washington. The Company predominantly serves the West Coast and operates in niche commercial markets that demands beams, trusses, and crossarms. Buse is one of the few sawmills that can process large logs to its clients’ specifications while carrying a significant amount of inventory, thereby allowing the Company to fulfill multiple orders on short notice.
The acquisition of Buse will bolster Lynx’s presence in the wood re-manufacturing market, a space already occupied by sister companies, Winfield Wood & Lath and Yellowhead Wood Products Inc. Lynx has been able to leverage this prior knowledge throughout the due diligence process and will continue to do so by providing operational support and seeking synergistic opportunities for the purpose of sharing the most effective business practices.
“Welcoming Buse to the ever-growing Lynx family enables the strategic expansion of our portfolio into the wood re-manufacturing space,” began Andrea Natarelli, Lynx’s Senior M&A Associate, “all the while having a strong foothold in the most active US market, the Pacific Northwest. Due to its long history, Buse has been a local landmark within the community of Everett for the past five decades. Lynx is extremely excited to preserve the Company’s legacy while partnering with its existing management led by Tom and Diana, Buse’s President and CFO, who’ve each played a key role in the Company’s recent success.”
“Buse Timber & Sales is 1 of 2 remaining lumber sawmill manufactures in Everett, Washington,” began Tom Parks, President of Buse. “In selling to Lynx, Timber will keep the historic landmark and its employees in operation as a sawmill for years ahead. As President, I am extremely grateful and proud that Lynx will keep the Buse name which has been a symbol along I-5 since the freeway was constructed in 1965.”
The transaction was facilitated with buy-side legal support from Minden Gross LLP, accounting services by Deloitte Canada, and tax due diligence services by MNP. Financing was provided by Windsor Capital, Lynx’s long-standing financing partner.
Lynx continues to pursue acquisition opportunities throughout North America, Europe, and the United Kingdom.
About Buse Timber & Sales Inc.
Founded in 1946 and located in Everett, Washington, Buse has been a competitive sawmill specializing in the cutting and processing of raw timber into high-grade construction and railroad lumber products. Buse predominantly serves customers operating in the industrial sector of the economy: specifically lumber yards, railroad and bridge constructors, remanufacturing companies, and treating plants. The Company’s main competitive advantage is its ability to process and cut large timber logs.
To learn more about Buse, please visit www.busetimber.com
About Lynx Equity Limited
With sales in excess of CAD $650M, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. Lynx targets acquisitions of companies with EBITDA between CAD $1M - $5M and utilizes a buy-and-hold strategy.
To learn more about Lynx Equity, please visit www.lynxequity.com
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