LOS ANGELES, June 5 /CNW/ - Platinum Equity announced today that it has
completed the acquisition of Weyerhaeuser Company's wholesale products
distribution centers in Canada and established the distribution business as a
standalone company named Broadleaf Logistics Company.
In conjunction with the acquisition, Platinum Equity announced that Paul
Perkins has been appointed as Chief Executive Officer of Broadleaf Logistics.
Mr. Perkins previously served as vice president, policy and planning for
Weyerhaeuser Canadian operations.
"While the company name has changed, our fundamental commitment to
superior service remains the same," Mr. Perkins said. "We will continue to
provide all of the products, services, and solutions that our customers rely
on. Our goal is to be the most trusted seller and supplier of building
materials across Canada."
Headquartered in Vancouver, British Columbia, Broadleaf is Platinum's
first Canada-based business. Jacob Kotzubei, the Platinum Equity executive who
led the acquisition, said the strategic plan for Broadleaf would focus not
only on sustaining current operations, but also identifying potential
opportunities for growth.
"This is an established distribution business with strong fundamentals
and a capable and talented staff of employees, and that is a terrific base to
build on," Mr. Kotzubei said. "We are very committed to the Canadian market
and to building this business for the long term. We're enthusiastic about the
opportunities inside Canada for expansion of our portfolio and to create
additional value. "
The transaction included all of Weyerhaeuser's distribution centers in
Canada, including facilities in Brampton, Ontario; Calgary, Alberta;
Dartmouth, Nova Scotia; Edmonton, Alberta; Kelowna, British Columbia;
Montreal, Quebec; Ottawa, Ontario; Quebec City, Quebec; Regina, Saskatchewan;
Saskatoon, Saskatchewan; Sudbury, Ontario; Timmins, Ontario; Winnipeg,
Manitoba; St. John's, Newfoundland; Sussex, New Brunswick; Langley, British
Those centers distribute a wide range of building materials, including
engineered wood products, oriented strand board, panels, framing lumber, and
plywood panels; appearance grade and other cedar products; and specialty
products such as exterior siding, insulation, rebar, and roofing.
Under a distribution agreement between Weyerhaeuser and Broadleaf
Logistics, Weyerhaeuser products will continue to be distributed by Broadleaf
through those distribution centers.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O(R) firm
specializing in the merger, acquisition and operation of companies that
provide services and solutions to customers in a broad range of business
markets, including information technology, telecommunications, logistics,
manufacturing, and entertainment distribution. Since its founding in 1995 by
Tom Gores, Platinum Equity has completed more than 70 acquisitions with more
than $16 billion in aggregate annual revenue at the time of acquisition.
For further information:
For further information: Platinum Equity Alanna Chaffin, 310-712-1850