Matrix Announces Tenth Transaction Closing for 2011, Serves as Exclusive Advisor to American Industrial Partners on its Acquisition of Coastal Lumber
RICHMOND, VA – November 18, 2011 – Matrix is pleased to announce the closing of its tenth transaction of the year. Matrix served as exclusive advisor to American Industrial Partners (“AIP”), a New York City based private equity firm, on its acquisition of Coastal Lumber located in Charlottesville, VA. Coastal Lumber is a regional producer of high grade, green sawn and kiln dried hardwood lumber.
This acquisition represents AIP’s second investment in the space coming on the heels of its recently announced purchase of Northwest Hardwoods from Weyerhauser.
Ben DeRosa, Partner at AIP commented, “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.”
Michael Morrison, Managing Director and Principal at Matrix noted that, “AIP is rapidly becoming a significant consolidator in the hardwood lumber industry and increasing private equity investment in the sector. As the economy improves, these acquisitions will be well positioned to leverage both domestic and global relationships.”
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.