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
Freres Celebrates Centennial Anniversary
Lyons, Ore.-based Freres Lumber Co., now doing business as Freres Engineered Wood, is celebrating its centennial year, marking a century of transformative growth and positive impact on the wood products industry, clients, employees, and its surrounding communities. Freres celebrates this…
Oregon Timber Agreement Said To Be Historic
An historic agreement between the timber industry and environmental advocates that the Oregon state legislature recently passed into law forms a comprehensive set of changes to the Oregon Forest Practices Act, and is the result of months of negotiations facilitated by Gov. Kate Brown in which…
Westervelt Picks BID For Planer Mill
BID Group has received a new turnkey order from Westervelt Lumber to modernize the existing planer mill in Moundville, Ala. BID will manage, design, build, equip, install, and provide full start-up services for the project. The new operation will incorporate the full spectrum of BID’s best-in-class…
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.