Lumber Investment Banking


Matrix is the market leader in successfully closed transactions in the hardwood and softwood industries.

Recent Transactions

No other firm has consummated more capital markets transactions in the hardwood industry than Matrix. Our knowledge of the lumber industry and the private equity firms invested in the space, along with the dedication and tenacity in which we approach each assignment, makes Matrix uniquely suited to be the investment banking firm of choice for hardwood and softwood related transactions.

Our professionals have been involved in dozens of transactions in this industry ranging from senior debt refinancings to capital raising activities, to both the sale and acquisition of companies participating in this sector.

  • Operations expertise: Sawmills & Drying Facilities (Kilns), Distribution Centers, Concentration Yards and Standing Timber
  • Products expertise: Dimension, Flooring, Molding, Green Lumber, Kiln Dried Lumber, Shipping Dry and Veneer Logs
  • Species expertise: Red Oak, White Oak, Ash, Poplar, Cypress, Cherry, Hard Maple, Soft Maple, Walnut and Southern Yellow Pine

What our Clients Are saying

  • “Mike Morrison and the Matrix team brought an unparalleled level of industry expertise and transactional oversight to this process.  I truly appreciate the role Matrix played in creating an excellent outcome for our shareholders and securing a strategic partner for Rossi American Hardwoods going forward.”

    Ted Rossi, President
    Rossi American Hardwoods
  • “Matrix achieved an exceptional outcome for my family, the Coxe Companies and our nearly 80 valued employees. Matrix’s expertise and contacts in the industry were tremendous assets throughout the transaction and we are appreciative of their efforts.”

    Tom Coxe, CEO
    The Coxe Companies
  • “It has been a difficult decision for Steve Schaeffer and I to pass the torch, but we believe we have selected an outstanding partner in Baillie. We are also thankful for Matrix Capital’s guidance in navigating the process that led us to this decision and this exciting chapter in the company’s history.”

    Les Wagner, Co-owner
    Wagner Lumber
  • “The acquisition of Coastal Lumber is an important element in our approach to hardwoods investing and Matrix’s deep  experience in the sector was a key to pushing this transaction over the finish line.”

    Ben DeRosa, Partner
    American Industrial Partners

Lumber Press Releases

Lumber Transactions

  • CLIENT
  • Client Description
  • Transaction Description
  • TYPE
  • Client Location
  • DATE
  • CLIENT: Ashton Lewis Lumber Co.
  • Client Description: One of the premier producers of Southern Yellow Pine Lumber in the Southeastern United States
  • Transaction Description: Advised on the sale of the assets of The Coxe Companies, including Ashton Lewis Lumber Co., to a privately held company
  • TYPE: Company Sale
  • Client Location: Gatesville, NC
  • DATE: February 2014
  • CLIENT: Ontario Hardwood Co., Inc.
  • Client Description: A hardwood lumber manufacturer
  • Transaction Description: Advised on the valuation of the common equity of Ontario Hardwood Co., Inc.
  • TYPE: Corporate Valuation
  • Client Location: Keysville, VA
  • DATE: December 2012
  • CLIENT: The Wagner Group
  • Client Description: A leading manufacturer and exporter of hardwood lumber in the Northeast region and one of the largest sawmill operations in the nation
  • Transaction Description: Advised on the sale to Baillie Lumber
  • TYPE: Company Sale
  • Client Location: Owega, NY
  • DATE: July 2012
  • CLIENT: Coastal Lumber/American Industrial Partners
  • Client Description: Regional producer of high grade, green sawn and kiln dried hardwood lumber
  • Transaction Description: Advised on the acquisition of Coastal Lumber Company
  • TYPE: Buy-Side Advisory
  • Client Location: Charlottesville, VA
  • DATE: October 2011

Lumber Team

David W. Shoulders

Managing Director, Head of Consumer & Industrial Products Group dshoulders@matrixcmg.com (804) 591-2034

David is Head of the Consumer & Industrial Products Group.  He has many years of financial and merger & acquisition advisory experience and has managed a variety of transactions with privately-held, middle-market companies since joining Matrix in 2006. These transactions primarily include sell-side strategic advisory assignments and private placements of debt and equity. Prior to […]

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William J. O’Flaherty

Vice President woflaherty@matrixcmg.com (804) 591-2053

William is a member of the Consumer & Industrial Products Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Prior to joining Matrix in 2011, William was a member of Wells Fargo Securities’ Industrials investment banking team in New York. His […]

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Robert A. Nickle

Senior Analyst rnickle@matrixcmg.com 804-591-2066

Robbie is a member of the Consumer & Industrial Products Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Prior to joining Matrix, Robbie was an Associate Equity Analyst with BB&T Capital Markets and Senior Financial Analyst with Capital One. Robbie […]

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Martin C. P. McElroy, Jr., CFA

Analyst mmcelroy@matrixcmg.com 804-591-2035

Martin is a member of the Consumer & Industrial Products Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Prior to joining Matrix, he was an Equity Research Associate Analyst with Stifel Nicolaus in the Industrials group. Martin graduated from the […]

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Lumber Brochures