Canadian private investment firm Hillcore Group has acquired Lakeside Pacific Forest Products Ltd, a Chilliwack, British Columbia-based forestry company.
No financial terms were disclosed.
Lakeside’s operations are on the east and west sides of Harrison Lake, near Chilliwack.
Hillcore said the acquisition is part of its forestry investment strategy that includes the consolidation of fibre supply and the creation of value-added opportunities and vertical integration.
Hillcore closes on the acquisition of Lakeside Pacific Forest Products Ltd
VANCOUVER, Feb. 21, 2019 /CNW/ – Group is pleased to announce that it has recently completed the acquisition of Lakeside Pacific Forest Products Ltd. This is part of Hillcore’s forestry investment strategy that includes the consolidation of fiber supply and the creation of added value opportunities and vertical integration.
Lakeside is a forestry company with extensive operations in B.C. with significant annual allowance cut. Lakeside has adhered to and is aligned with Hillcore’s policy of the strictest forest practices and is a leader in sustainable fibre practices.
Hillcore’s Forestry Group now controls significant allowable annual cut and with its current platform is on target to harvest 1.5 million cubic meters by the end of 2021.
Allen Soltis, who leads the Forestry Group, said “we are excited to add such a forestry jewel as Lakeside to our management portfolio.”
Hillcore’s investments focus is to expand new operations in:
Forestry & Logging
Sawmills & Value Added Forest Products
OSB Panels and Wood Chips
Bio Mass, Bio Fuel Co-Generation and Community Heating.
About Hillcore Group
The Hillcore Group (http://hillcoregroup.com) is a leading independent Canadian investment and advisory firm. We invest predominantly in the life sciences, real estate, seniors living, financial, industrial and energy sectors. We have offices in Toronto, Vancouver, and Montreal. Through our various groups and portfolio companies we employ more than 3,000 people throughout Canada. Entities under our management have an asset value in excess of $4.5 billion. Since 2005, we have completed acquisitions, directly or indirectly through our investment funds, with an aggregate asset value in excess of $8.5 billion.
For further information: Greg Tedesco, 604-696-3901, GTedesco@HillcoreGroup.com