Star Equity Holdings, a diversified holding company, has announced the acquisition of Timber Technologies, an engineered wood products manufacturer based in Wisconsin. The $23 million transaction includes a mix of upfront cash, deferred payments, and an earn-out agreement predicated on EBITDA targets. Additionally, the company secured a $7 million term loan from Bridgewater Bank to partly finance the acquisition. With Timber Technologies’ strong market presence and 20-year history of profitability, Star Equity aims to improve its overall financial performance. The acquisition will diversify Star’s Building Solutions division’s end markets and enable strategic synergies with existing businesses in the Minneapolis metro area. Timber Technologies will continue operating under the leadership of its current co-owners while integrating into Star’s portfolio. Future transactions include the acquisition of associated real estate for $3 million.
Engineered Wood Products, Diversified Holdings, Building and Construction,United States, Midwest
https://www.globenewswire.com/news-release/2024/05/20/2884867/11704/en/Star-Equity-Holdings-Announces-Acquisition-of-Timber-Technologies.html