CanWel Building Materials Group, Vancouver, B.C., has agreed to purchase 100% of Hawaii’s Honsador Building Products group of companies for $80 million in cash Colorado-based Grey Mountain Partners. Founded in 1935, Honsador operates 14 facilities throughout Hawaii, including distribution yards, door shops, truss plants, and treating plants, plus a buying office in Portland, Or. It is the largest producer of pressure treated wood in Hawaii, with an annual capacity of 150 million bd. ft.
The deal, set to close in fourth quarter 2017, will make Honsador an indirect wholly-owned subsidiary of CanWel and will combine Honsador’s operations with CanWel’s growing North American platform.