Star Equity Holdings Acquires Timber Technologies
May 17, 2024
Star Equity Holdings, Inc. completed the acquisition of Timber Technologies, LLC (Timber Tech), a Colfax, Wisconsin-based glue-laminated timber (glulam) manufacturer, effective May 17, 2024. The cash-free, debt-free purchase price was $23 million (including upfront cash, deferred cash and an earn-out), with associated real estate to be acquired separately for $3 million; Timber Tech reported 2023 revenue of $18.8 million and Adjusted EBITDA of $5.5 million.
- Buyers
- Star Equity Holdings, Inc.
- Targets
- Timber Technologies, LLC
- Sellers
- Tom Niska, Dale Schiferl
- Industry
- Building Products
- Location
- Wisconsin, United States
- Transaction Type
- Buyout
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