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
Canfor Closures Causing Ripples
Canfor Closures Causing RipplesCanfor Corp., which announced in early September the closure of its Vanderhoof and Fort St. John sawmills in northern British Columbia, citing ongoing financial losses, weak lumber markets, and increased U.S. tariffs, said it remains...
Vermont Announces Business Loan Program
Vermont Announces Business Loan ProgramA new loan program from the Vermont Economic Development Authority (VEDA) is now available to support businesses in the state’s forest economy. Three million dollars in total financing can be provided in the form of loans up to...
Sierra Pacific Plants 300 Millionth Seedling
Sierra Pacific Plants 300 Millionth SeedlingSierra Pacific Industries reported the planting of its 300 millionth seedling on its timberlands this spring. “I wouldn’t have imagined 75 years ago when we started with no land and one very small sawmill that I would see...
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.