- Blue Sage invested in Timber in August 2015
- D.A. Davidson & Co was investment advisor to Blue Sage and Timber
- Blue Sage currently has over $400 million of assets under management
Blue Sage Capital has sold Timber Automation, a maker of equipment and systems for the forest products and biomass industries. The buyer was USNR, a subsidiary of Wood Technologies International. No financial terms were disclosed.
Blue Sage invested in Timber in August 2015 through its partnership with the company’s founders and management team.
On the sale, Blue Sage Managing Member Jim McBride said in a statement: “Timber is a great example of the Blue Sage strategy at work. We partnered with the founders of the business, helped them transition into retirement and hired an excellent team to usher Timber into its next phase of growth. Credit John Steck, President, Renee Teel, CFO, and their entire team for achieving an outstanding outcome in the face of tariffs and volatile lumber prices, a pandemic, and geopolitical unrest.”
Blue Sage and Timber were represented in the transaction by D.A. Davidson & Co. (Investment Advisory), Queen Saenz + Schutz PLLC (Legal), Kroll Transaction Advisory Services (Accounting) and Cherry Bekaert (Tax).
Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management. Blue Sage typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20 million to $200 million of revenue.