Platinum Equity Completes Weyerhaeuser Acquisition and Relaunches Business as Broadleaf Logistics Co
LOS ANGELES (June 5, 2007) – 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 Columbia.
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® 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