Matrix Capital Announces Third Industrial Manufacturing Transaction in Last 45 Days with the Sale of Ashton Lewis Lumber Co. to Privately-Held Company
RICHMOND, VA – March 7, 2014 – The Matrix deal team of Mike Morrison, David Shoulders, William O’Flaherty and Pratik Thakral, which recently closed on the sale of Dimex, LLC and Butler Woodcrafters, is pleased to announce the sale of the assets of Coxe-Lewis Corporation and Coxe International Sales Corp. (collectively, the “Coxe Companies”), including the Ashton Lewis Lumber Co. mill in Gatesville, North Carolina. The assets were sold to a privately-held company that will continue to do business as Ashton Lewis Lumber Co. Ashton Lewis is recognized as one of the premier producers of Southern Yellow Pine lumber in the Southeastern United States.
Matrix Capital Markets Group served as exclusive financial advisor to the Coxe Companies. Mike Morrison, President of Matrix, commented, “This is a tremendous outcome for both parties. Tom and Nan Coxe have built an incredibly successful business and we are pleased to help them transition to new ownership.”
Tom Coxe, CEO of the Coxe Companies, has been named President of the new company. “We are extremely excited to move into a new era for Ashton Lewis,” said Coxe. “Our goal was to lay the groundwork that would allow us to build on our rich history of providing outstanding products for decades to come. We couldn’t be happier with the outcome or our prospects for the future,” he added. “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.” Attorneys involved in the transaction included Poyner Spruill LLP, who represented the seller, and Sirote & Permutt, P.C., who represented the buyer.
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is a leading middle-market investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held and private-equity owned companies, including sales and divestitures, recapitalizations, management buyouts, and debt & equity placements. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, affiliate of Matrix Capital Markets Group, Inc., Member of FINRA and SIPC.