UFP Industries Acquires 50% Stake In Dempsey Wood Products
UFP Industries has announced that its affiliate, PalletOne, Inc., has acquired a 50% equity stake in South Carolina sawmill company, Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50% of Dempsey after three years.
Founded in 1988 by Ronald Dempsey, Dempsey Wood Products produces kiln-dried lumber, pallet lumber, and other industrial wood products from a single location in Orangeburg, South Carolina. Dempsey had 2021 sales of $68.9 million, and its management team, including Ronald Dempsey and his son, Parker, will continue in management roles.
The industrial lumber that Dempsey produces is a key product for pallet operations and has been in short supply as larger mills produce less of this type of lumber. PalletOne’s investment in Dempsey helps it secure and grow a critical long-term supply source. In 2021, five of Dempsey’s 10 largest customers were UFP affiliates, and nearly 40 other UFP locations could be served by Dempsey.
“Having supplied UFP companies for many years, we’re proud to join forces and contribute to their future growth plans,” comments Parker Dempsey. “Together we can expand our capacity and industrial offerings. This gives our company and our employees exciting new growth opportunities.”
Latest News
Rosboro Advances With Glulam
Rosboro Advances With GlulamMajor glulam producer Rosboro Co. named several primary suppliers for its upcoming $100 million-plus expansion project in Springfield, Ore. The investment includes a lamstock planer mill, expanded dry kiln capacity and a new glulam plant....
Hampton Lumber Launches Paper-Azzi Campaign
Hampton Lumber Launches Paper-Azzi Campaign Hampton Lumber has excitedly announced the launch of its Paper-Azzi Campaign, a fun and interactive initiative designed to raise awareness about the diverse uses and extensive reach of wood products grown and manufactured in...
Interfor to Exit Operations In Québec
Interfor to Exit Operations In QuébecInterfor has announced plans to exit its operations in Québec, Canada, including the sale of its three manufacturing facilities and the closure of its Montréal corporate office. This strategic initiative will support a focus on the...
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.