Mercer International has concluded the acquisition of substantially all the assets of North American manufacturer Structurlam Mass Timber.
The acquisition is valued at $83.5m and follows the $60m stalking horse asset purchase agreement announcement made by Structurlam in April as part of a Chapter 11 auction.
The facilities, situated in Conway, Arkansas, US, and Penticton, British Columbia, Canada, will continue their operations as part of subsidiary Mercer Mass Timber.
This transaction will allow Structurlam's manufacturing facilities to operate under the name 'Mercer Mass Timber'.
With this acquisition, Mercer can expand its production capacity, diversify its product portfolio, meet client requirements and boost its position as a major mass timber products producer.
It will also broaden the company's reach to encompass both domestic and international markets, in which it will contribute to sustainable construction projects on a broader scale.
Mercer's senior vice-president Brian Merwin said: “We are thrilled to welcome Structurlam into the Mercer Mass Timber fold.
“This acquisition will allow us to offer our customers a wider range of mass timber products, and to better support their projects with the addition of more cross-laminated timber capacity and glulam production capabilities. Our goal is to become a one-stop shop for all mass timber needs. The additional manufacturing facilities that the Structurlam acquisition brings will enable us to create greater efficiencies.”
