One Equity Partners has acquired a majority stake in Rosboro from Wynnchurch Capital. No financial terms were disclosed. Based in Springfield, Oregon, Rosboro is a maker of engineered wood products.
ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital, L.P. (“Wynnchurch”), a leading middle market private equity firm, announced the sale of a majority interest in Rosboro Holdings, Inc. (“Rosboro” or the “Company”) to One Equity Partners (“OEP”). Under terms of the transaction, Wynnchurch will continue to own a significant minority stake in the Company.
Headquartered in Springfield, Oregon, Rosboro is a leading manufacturer of engineered wood products including stock and custom glued laminated timber (“glulam”) and lumber used in residential and light commercial construction end markets. Following Wynnchurch’s investment in December 2016, Rosboro successfully separated from its captive timberlands, completed the acquisition of Western Structures, scaled the business significantly, built out its sales force to drive pull-through demand, and made investments to improve operations and grow its glulam product offerings.
Brian Crumbaugh, Partner at Wynnchurch, stated, “Rosboro represented an opportunity to invest in a company with a leading market position, differentiated product offering and long-standing customer relationships. We are proud of the management team’s accomplishments during our ownership period and are excited to continue our partnership with management during Rosboro’s next phase of growth.”
“Rosboro is exceptionally well-positioned to benefit from continued tailwinds within its core end markets,” added Chris O’Brien, Managing Partner at Wynnchurch. “We look forward to partnering with OEP and the Rosboro management team over the coming years.”
“Wynnchurch has been a great partner and provided tremendous support during their ownership. They have helped us drive continuous improvement across our operations and execute on multiple organic and inorganic growth initiatives. We are excited to partner with both OEP and Wynnchurch as we look to execute on our long-term growth initiatives,” said Rich Babcock, CEO of Rosboro.
“Rosboro is an excellent business making high-quality differentiated engineered wood products at scale,” said Matthew Hughes, Managing Director at OEP. “Rosboro is poised to benefit from a number of growth drivers including single-family residential housing starts, net migration to the U.S. West, increasing residential repair and remodel, and glulam’s increasing share against structural wood alternatives and other engineered wood products. We look forward to working with CEO Rich Babcock and his team to capitalize on a growing market opportunity.”
Houlihan Lokey Capital, Inc. and Perkins Coie LLP served as financial advisor and legal counsel, respectively, to Rosboro and Wynnchurch.
Wynnchurch is actively seeking investment opportunities for its $2.277 billion Fund V. In December, Wynnchurch acquired Appvion, a leading provider of specialty and high performance direct thermal coatings. Other recent Wynnchurch investments include: Owen, a leading provider of critical infrastructure equipment, aftermarket parts and services; Trimlite, a leading manufacturer and distributor of residential doors and related door products; Northern Wholesale Supply, a leading provider of RV and marine parts and accessories; and The Wheel Group, a leading designer and distributor of branded aftermarket wheels, specialty tires, and related accessories.
Rosboro is a leading manufacturer of engineered wood products used in residential and light commercial construction, including stock and custom glued laminated timber (“glulam”) and a variety of other lumber products. Founded in 1939 and headquartered in Springfield, OR, Rosboro has developed a unique product offering focused on customer-driven solutions. Rosboro operates out of two manufacturing campuses located in Springfield and Veneta, OR. For more information, please visit: https://www.rosboro.com.