LEBANON, PA - Weaber Lumber says parent corporation Weaber, Inc. has been recapitalized by its CEO, the grandson of Weaber's founder, with funding from private equity firm Cyprium Partners.
"This is an incredibly exciting time for my family and our employees," says Matthew G. Weaber, president and CEO.
Matthew G. Weaber led the recapitalization of the business, which has now transitioned a controlling interest back to the Weaber family. Cleveland based Cyprium Partners, a private equity firm focused on making non-control investments, supported the recapitalization of Weaber, a producer of high quality hardwood products including oak flooring, poplar and oak moulding, finished trim boards, plantation shutter louvers, and hardwood stair components which are sold throughout the country to pro-contractor yards, specialty flooring distributors, big box retailers, building products wholesalers and various other outlets.
"This is an incredibly exciting time for my family and our employees," says Matthew G. Weaber, president and CEO. "As a result of this transaction, our business is well positioned for substantial growth in the industry and will allow us to better serve our customers and our community." Weaber competes in the $27.2 billion wood products markets and employs more than 600 people
Financial advisors were LM + Co Capital, New York, NY; Stanilla, Siegel and Maser LLC, Lebanon, PA; legal counsel was Reilly, Wolfson, Sheffey and Lundberg, LLP, Lebanon, PA. In 2012, Weaber Inc. gave control to Resilience Capital Partners. At the time Weaber's business was under pressure from the downturn, and it had half the number of employees it currently does.
"Resilience has been a great partner to work with," Matt Weaber said. "They came into a difficult situation with our bank group and quickly provided both financial and operational stability during an extremely challenging time in the lumber industry."
Weaber, Inc. was founded in 1941 by Walter H. Weaber, whose sone, Walter, grew it into a leading processor of hardwood products for use in residential repair and remodel, new construction and hobbyist throughout the United States and Canada.
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In addition to its state-of-the–art sawmill, Weaber has extensive processing and finishing capabilities that enable it to produce a wide range of lumber products, including surfaced four sides boards, flooring, moulding, stair parts, finger-jointed products, edged glued products and kiln-dried lumber from Oak, Poplar and other hardwood species. Weaber sources its lumber locally from the Appalachian Mountain region.
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