Three Twenty-One Capital Partners (“3-21”) has been retained to seek a buyer for a pair of leading sawmills in the southeastern U.S. The Company produces green and kiln-dried lumber products from a mix of hardwoods and pine.
The larger 211-acre facility has a capacity of 100,000 board feet (“BF”) per eight-hour shift, nearly 900,000 BF of kiln capacity, and storage for over 4,000,000 BF of timber. The smaller 38-acre facility has a capacity of 80,000 BF per eight-hour shift, 270,000 BF of kiln capacity, and storage for 1,000,000 BF of timber. The Company also has two off-site log yards with a combined timber storage capacity of 1,000,000 BF.
Tariffs instituted by the Chinese government and the manufacturing slowdown caused by the COVID-19 pandemic left the Company with insufficient cash to operate. A Federal Receiver was appointed in July 2020 to manage the operation, and the business has since been stabilized.
For more information, please execute the signed CA (right) and contact Jacob@321capital.com to set up a phone call.