UFP Industries Acquired 50% Equity Stake in Dempsey Wood Products, LLC

SEATTLE (Scrap Monster): UFP Industries announced that its affiliate, PalletOne, Inc., has acquired 50% equity stake in Dempsey Wood Products, LLC. As per the agreement, PalletOne is provided with an option to purchase the remaining 50% stake in the company after a period of three years. The management team, including Ronald Dempsey, Founder and his son Parker Dempsey, will continue in management roles.

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Dempsey Wood Products operates a single facility in Orangeburg, South Carolina, which produces wide range of products including kiln-dried lumber, pallet lumber, and other industrial wood products. The company had reported annual sales of $68.9 million during the previous year.

Howe Wallace, president of PalletOne noted that Dempsey is led by an experienced team that has produced strong and stable results for more than four decades. The investment in one of its trusted suppliers for many years will further strengthen their ties, improve its work efficiencies and help satisfy its increasing need for lumber in the market.

Meantime, Parker Dempsey stated that it is proud to join forces and contribute to UFP’s future growth plans, having served as their supplier for several years. The deal gives the company and its employees exciting new growth opportunities, he added.