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Legacy Capital Announces the Acquisition of King Lumber Company by Lincoln Lumber.

HomeTransactionsLegacy Capital Announces the Acquisition of King Lumber Company by Lincoln Lumber.

New Orleans, LA – October 25, 2019 – Legacy Capital announced today the acquisition of its client, King Lumber Company, Inc. (“King Lumber”) in Forest, MS by Lincoln Lumber, LLC (“Lincoln Lumber”), headquartered in Conroe, TX.

King Lumber, which has been in business since 1952, is a second generation, family-owned board remanufacturer, specializing in drying and surfacing 1” Southern Yellow Pine boards. The finished boards are sold primarily into the lumber and building materials market, as well as the industrial use market.

Lincoln Lumber has served as a premium provider of lumber and forestry products to markets across the Midwest and Southern United States for over 40 years. The transaction strengthens Lincoln’s position as a major producer of premium boards in the Gulf Coast and East Texas region. The acquisition adds approximately 40 million board feet per year to Lincoln Lumber’s operations, in addition to the retention of King Lumber’s skilled employees. Three of King Lumber’s four owners will join Lincoln Lumber, with Mark Gaddis and Jeff Gaddis continuing to oversee the operations.

“We believe that this acquisition is a great fit for both of us. Operationally we share similar values, and both companies emphasize quality and integrity in our business dealings. We feel we have found wonderful partners in Mark, Jeff, Mike and the King Lumber team, and couldn’t be more excited that they are staying post-acquisition to join the Lincoln family. We also want to wish Gay all the best in the future, she has been a main ingredient in the success of the corporation over the years,” says Jim Kelly, President of Lincoln Lumber and its affiliates.

Mark Gaddis added, “We are proud that the 65-year King Lumber legacy will be continued through Lincoln Lumber and are excited to join their growing organization.”

Legacy Capital served as transaction advisor to King Lumber. Chip Porter, Managing Partner, said, “It was a pleasure working with the Gaddis family in this transaction. The family wanted to transition the business to a company that would continue and improve the operations for the benefit of the employees and the community, and with the sale to Lincoln Lumber, we were able to help them accomplish their goals. It was also a pleasure working with Lincoln Lumber and its advisors. The forest products industry is an area of particular focus for Legacy Capital, and we look forward to working with others in the industry.” Gay Gaddis Grantham added, “The Legacy team expertly guided us through a complex transaction dealing with a host of unexpected challenges.”

Legacy Capital helps create value for owners of private companies with its depth of knowledge and technical execution expertise in mergers and acquisitions, recapitalizations and general financial advisory. Legacy Capital also provides valuation opinions and complex litigation support services.

Legacy Capital was founded in 1994 and is based in New Orleans, Louisiana. Legacy Capital is a registered member of FINRA (www.finra.org), SIPC (www.sipc.org), and the Louisiana Office of Financial Institutions, Securities Division.