CAMPBELL RIVER – Interfor Corporation has reached an agreement with an affiliate of Kelso & Company to acquire 100 percent of the equity interests of EACOM Timber Corporation.
A growth-oriented forest company, Interfor has operations in Canada and the United-States and has an annual production capacity of approximately 3.9 billion board.
This transaction with increases its total lumber production capacity by 25 per cent, as Interfor capacities will be nearly 5 billion board feet across 28 sawmills, with multiple secondary manufacturing facilities and 4,600 employees.
EACOM Timber Corporation is an eastern Canadian wood products company whose operations include the manufacturing, marketing, and distribution of lumber and wood-based value-added products, and the management of forest resources. EACOM owns seven sawmills, a remanufacturing facility, and an engineered I-joist plant with over 1,300 employees.
“This transaction will allow our team to write its next chapter as part of one of North America’s best lumber companies,” said EACOM’s president and CEO Kevin Edgson. “Interfor’s operational excellence, financial strength, customer relationships and North American-wide portfolio will provide substantial opportunities to our people and our stakeholders.
“Our companies have shared values, including a commitment to safety and environmental responsibility and we are thrilled to be a part of Interfor’s continuing growth ambitions.”