Harris Williams Advises Coastal Forest Resources Company on the Pending Sale of its Subsidiary, Coastal Plywood Company, to Boise Cascade Company

Rhea-AI Summary

Harris Williams, a global investment bank, is advising Coastal Forest Resources Company on the sale of its subsidiary, Coastal Plywood Company, to Boise Cascade Company (NYSE: BCC). Coastal, a prominent supplier of plywood and treated wood products in the U.S. Southeast, has approximately 750 employees. The transaction awaits customary closing conditions, including antitrust approval. Boise Cascade is a major North American producer of engineered wood products and plywood. Harris Williams is part of the PNC Financial Services Group (NYSE: PNC).

Positive

• Harris Williams' involvement in a significant transaction highlights its expertise in the building products sector.
• Coastal's strong operational performance and market reputation are likely to enhance Boise Cascade's product offerings.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Coastal Forest Resources Company (CFRC) on the pending sale of its subsidiary, Coastal Plywood Company (Coastal), to Boise Cascade Company (NYSE: BCC; Boise Cascade). Coastal is a leading provider of plywood, lumber and treated wood products throughout the U.S. Southeast. The transaction is being led by Tim Webb, Brandt Carr, Matt Crisafi and Mike Hogan of the Harris Williams Industrials Group.

“We are thrilled to be working with CFRC President and CEO Travis Bryant, as well as the outstanding management team and board of CFRC on this transaction,” said Tim Webb, a managing director at Harris Williams. “Coastal represents another successful outcome in the building products sector and underscores the broader expertise of our Industrials Group.”

“Coastal's operational excellence and trusted reputation in the market continue to drive both impressive performance and results,” said Brandt Carr, a director at Harris Williams. “We look forward to following their continued success under Boise Cascade’s ownership.”

Founded in 1957, Coastal is a producer of quality plywood, lumber, and treated wood products. The two manufacturing locations combined have approximately 750 employees.

Closing of the sale is subject to customary closing conditions, including receipt of antitrust approval under the Hart-Scott-Rodino Act of 1976, as amended. CFRC will retain ownership of and continue to operate its timberland holdings, which are not included in the pending sale of Coastal.

Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Industrials Group has experience across a variety of sectors, including advanced manufacturing; building products; chemicals and specialty materials; industrial technology; and packaging. Our building products experience spans a broad spectrum of building products and materials sectors, with expertise that ranges from lighter building products used in residential and commercial markets to heavy construction materials used in infrastructure applications. Within these sectors, our firm has worked with clients that touch every aspect of the production, distribution, and related construction services in these markets. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220610005409/en/

For media inquiries, please contact Julia Moore at media@harriswilliams.com.

Source: Harris Williams LLC

FAQ

What is the sale involving Coastal Plywood Company and Boise Cascade Company?

Harris Williams is advising Coastal Forest Resources Company on the sale of its subsidiary, Coastal Plywood Company, to Boise Cascade Company (NYSE: BCC).

What are the expected closing conditions for the sale of Coastal Plywood Company?

The sale is subject to customary closing conditions, including receipt of antitrust approval under the Hart-Scott-Rodino Act.

How many employees does Coastal Plywood Company have?

Coastal Plywood Company has approximately 750 employees.

What is the significance of Harris Williams in this transaction?

Harris Williams is providing M&A advisory services, showcasing its expertise in the building products sector.

What company owns Harris Williams?

Harris Williams is a subsidiary of the PNC Financial Services Group (NYSE: PNC).