Stella-Jones Inc. completed the acquisition of substantially all the operating assets employed in the business of Wood Preservers Incorporated, located at its wood treating facility in Warsaw, Virginia.
Wood Preservers Incorporated manufactures, sells and distributes marine and foundation piling and treated wood utility poles. Sales for the twelve-month period ended December 31, 2016 were approximately $34.6 million.
Total cash outlay associated with the acquisition was approximately $27.5 million. The company financed the acquisition through its existing syndicated credit facilities.
Stella-Jones Inc. is a leading producer and marketer of pressure treated wood products. The Company supplies North America’s railroad operators with railway ties and timbers, and the continent’s electrical utilities and telecommunication companies with utility poles.