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Buse Timber & Sales, Everett, Wa., has been acquired by the Toronto-based private equity firm Lynx Equity Ltd.
Lynx will partner with existing management, led by president Tom Buse and CFO Diana Martin.
Founded in 1946 by brothers Norm and Delmer Buse, the company predominantly serves the West Coast and operates in niche commercial markets that demand beams, trusses and crossarms, including lumberyards, railroads, bridge builders, and treating plants. Buse is one of the few sawmills that can process large logs to its clients’ specifications while carrying a significant amount of inventory, allowing it to fulfill multiple orders on short notice.
“Buse Timber & Sales is one of two remaining lumber sawmill manufacturers in Everett,” said Tom Parks, president of Buse. “In selling to Lynx, Timber will keep the historic landmark and its employees in operation as a sawmill for years ahead. As president, I am extremely grateful and proud that Lynx will keep the Buse name, which has been a symbol along I-5 since the freeway was constructed in 1965.”
The acquisition will bolster Lynx’s holdings in the wood remanufacturing market, joining sister companies Winfield Wood & Lath, Kelowna, B.C., and Yellowhead Wood Products of Alberta, Canada.
“Welcoming Buse to the ever- growing Lynx family enables the strategic expansion of our portfolio into the wood remanufacturing space, all the while having a strong foothold in the most active U.S. market, the Pacific Northwest,” said Andrea Natarelli, Lynx’s senior M&A associate.
Lynx specializes in acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities.