West Fraser Timber completed acquisition of six sawmills and a finger-joint mill from the Howard Gilman Foundation and other shareholders. The transaction followed termination of the Hart-Scott-Rodino Waiting Period in August 2017.
The Gilman Companies are comprised of six sawmills and a finger-joint mill in Florida and Georgia as well as an administrative office in St. Marys, Georgia. After considering estimated tax benefits, the purchase price represents approximately six times trailing 12 months EBITDA of the acquired operations. In the 12 months ended June 30, 2017 the Gilman Companies generated EBITDA of USD 67 million on estimated sales of USD 330 million.
About West Fraser Timber:
The company is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.