Conner Industries, Inc., a national lumber products and wooden crate manufacturer, says it has received from existing investors additional growth capital which, when added to an investment made in April 2017, totals $10 million.
The capital infusion will be used to recruit experienced lumber sales people and to upgrade Conner’s re-manufacturing plants, and to finance strategic acquisitions.
Conner specializes in supplying cut lumber (softwoods, hardwoods, and panel woods) needed for pallet, crate and skid parts, and fully assembled products, such as pallets, crates, skids and industrial containers. Conner services its customers nationwide from manufacturing plants located in 10 states.
In April Conner announced that it had received a substantial growth capital investment from Argentum and other existing investors, as well as a group of new investors. Members of Conner’s management team, including its Chairman, CEO and certain executives, also invested personally in the round of financing. Conner also announced that its senior lender, Wells Fargo, has renewed an $18 million line of credit.
Earlier in 2017 Conner completed two acquisitions – Golden Triangle and Continental Timber – and now has more than 500 employees and services over 1,900 customers nationwide, and processes/sells more than 300 million board feet annually. Conner says it is poised for growth, and is actively seeking experienced lumber sales personnel, lumber buyers and packaging specialists to join its team.
From Woodworking Network: http://www.woodworkingnetwork.com/wood/pricing-supply/lumber-products-firm-conner-industries-receives-10-million-capital-infusion