NEW YORK -- One Equity Partners, a private equity firm, has acquired USNR, a comprehensive supplier of equipment and technologies for the wood processing industry, and Wood Fiber Group, a leading manufacturer and supplier of sawmill consumables, parts, and services. 

The firm merged the two businesses to create what it describes as a "frontrunner" for wood processing equipment and aftermarket parts and consumables, with projected 2021 revenues greater than $500 million. 

"This investment in USNR and Wood Fiber Group is a perfect example of One Equity Partners' ability to identify and execute transformational combinations," said JB Cherry, senior managing director, OEP. "Combining these two great companies that are headquartered seven miles apart with a long history of collaboration and complementary customer bases, is a natural next step to drive value for the businesses and their customers."

"The combined company's scale, technical capacity and global reach provide an ideal platform to benefit from long-term global trends in wood demand and process automation," Cherry added. "In addition, bringing the two top management teams in the industry together makes the company the acquirer of choice as consolidation of the highly fragmented industry continues and worldwide competition intensifies. We look forward to a productive collaboration with the teams on finding new avenues for growth and building on the companies' past success."

Headquartered in Woodland, Wash., USNR provides comprehensive automation and technology system integration for mills—from log yards all the way through finishing equipment. The company boasts that it has the largest global installed base of wood processing equipment, serving more than 1,800 customers operating 2,500 mill sites in 56 countries around the world.

Ridgefield, Wash.-based Wood Fiber Products said it acts as a "one-stop shop" provider of leading timber mill products under brands including Simonds International, Burton Saw & Supply, BGR Saws, Cut Technologies, Global Tooling, U.S. Blades, Armstrong Manufacturing, and Wright Machine Tool. The company has 12 facilities across all the major North American wood processing regions.