LP Building Solutions Completes Sale of Engineered Wood Products Business and SolidStart® Brand to Pacific Woodtech

Rhea-AI Summary

LP Building Solutions (NYSE: LPX) has successfully finalized the sale of its Engineered Wood Products (EWP) business to Pacific Woodtech for $210 million. This sale encompasses LP's laminated veneer lumber and I-joist manufacturing facilities located in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada, along with associated timber license assets and the SolidStart® brand. UBS Investment Bank served as the financial adviser for this transaction.

Positive

• LP raised $210 million from the sale of its Engineered Wood Products business, enhancing liquidity.
• The divestiture allows LP to focus on its core business and strategic objectives.

Negative

• None.

NASHVILLE, Tenn., Aug. 1, 2022 /PRNewswire/ -- LP Building Solutions (LP) (NYSE: LPX) today announced that it closed on the previously announced sale of its Engineered Wood Products (EWP) business to Pacific Woodtech for $210 million.

The acquisition includes LP's laminated veneer lumber and I-joist manufacturing facilities in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada, associated timber license assets, and the SolidStart^® brand.

LP's financial adviser is UBS Investment Bank. LP's legal advisers are Troutman Pepper and Fasken Martineau Dumoulin LLP.

About LP Building Solutions
As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood building products that meet the demands of builders, remodelers, and homeowners worldwide. LP's extensive offerings include innovative and dependable building products and accessories, such as Siding Solutions (LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP Outdoor Building Solutions®), LP Structural Solutions (LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, and LP® FlameBlock® Fire-Rated Sheathing and more), LP® TopNotch® Sub-Flooring, and oriented strand board (OSB). In addition to product solutions, LP provides industry-leading customer service and warranties. Since its founding in 1972, LP has been Building a Better World™ by helping customers construct beautiful, durable homes while our shareholders build lasting value. Headquartered in Nashville, Tennessee, LP operates 22 plants across the U.S., Canada, Chile, and Brazil. For more information, visit LPCorp.com.

 

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SOURCE LP Building Solutions

FAQ

What was the amount of the sale of LP Building Solutions' Engineered Wood Products business?

LP Building Solutions sold its Engineered Wood Products business for $210 million.

Which facilities were included in the sale to Pacific Woodtech?

The sale included facilities in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada.

Who advised LP Building Solutions during the sale of its EWP business?

UBS Investment Bank acted as the financial adviser for LP Building Solutions during the transaction.

What brand was part of the sale of the Engineered Wood Products business?

The sale included LP's SolidStart® brand.