M&A Deal Summary

UFP Industries Acquires PalletOne

On December 28, 2020, UFP Industries acquired forest products company PalletOne for 232M USD

Acquisition Highlights
  • This is UFP Industries’ 16th transaction in the Forest Products sector.
  • This is UFP Industries’ largest (disclosed) transaction.
  • This is UFP Industries’ 26th transaction in the United States.
  • This is UFP Industries’ 5th transaction in Florida.

M&A Deal Summary
Date 2020-12-28
Target PalletOne
Sector Forest Products
Buyer(s) UFP Industries
Deal Type Add-on Acquisition
Deal Value 232M USD
Advisor(s) BlackArch (Financial)

Target

PalletOne

Bartow, Florida, United States
website
Organized in 2001, PalletOne operates 17 locations in nine states that manufacture new pallets, provide pallet repair programs, recycle used pallets, and produce a variety of other wood products. With headquarters in Bartow, Florida, PalletOne’s operations also include Sunbelt Forest Products Corporation, one of the largest producers of pressure-treated lumber and residential fencing in the Southeast, and SunOne Logistics, a Southeast regional truckload carrier. Through its combined operations, PalletOne employs more than 1,500 people across 22 locations.

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Buyer(S) 1

Buyer

UFP Industries

Grand Rapids, Michigan, United States

website

Category Company
Founded 1955
Sector Forest Products
Employees12,000
Revenue 9.6B USD (2022)
DESCRIPTION
Universal Forest Products' corporate headquarters in Grand Rapids, Michigan.
Universal Forest Products' corporate headquarters in Grand Rapids, Michigan.

UFP Industries designs, manufactures, and markets wood and wood-alternative products for national home centers and other retailers, structural lumber and other products for the manufactured housing industry, engineered wood components for residential and commercial construction, specialty wood packaging, components and packing materials for various industries, and customized interior fixtures used in a variety of retail stores, commercial and other structures. UFP Industries was founded in 1955 and is based in Grand Rapids, Michigan.

DEAL STATS #
Overall 28 of 34
Sector (Forest Products) 16 of 17
Type (Add-on Acquisition) 24 of 30
State (Florida) 5 of 5
Country (United States) 26 of 32
Year (2020) 3 of 3
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-03 Fire Retardant Chemical Technologies

Matthews, North Carolina, United States

Fire Retardant Chemical Technologies is a highly innovative chemical research and development firm that recently developed multiple breakthrough technologies and products having the potential to revolutionize the industry but require the resources of a larger enterprise in order to realize their full potential and market impact. Fire Retardant Chemical Technologies is based in Matthews, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Walnut Hollow

Dodgeville, Wisconsin, United States

Walnut Hollow produces a variety of finely finished wood surfaces used in the hobby, craft, and woodworking projects, as well as in taxidermy. Walnut Hollow was founded in 1972 and is based in Dodgeville, Wisconsin.

Buy -
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