Conifex acquires Lignum
Feb. 3, 2014, Vancouver - Conifex completed its previously announced acquisition of Lignum Forest Products, a private partnership which operates a lumber marketing and distribution business.
Lignum is an established and well-respected name in the forestry and lumber distribution business in British Columbia. Lignum serves customers and distributes products that are complementary to those of Conifex. Lignum provides extensive market reach in the North American market through a network of established inventory locations.
Ken Shields, Chief Executive Officer of Conifex, commented: "We are pleased to have Lignum become part of Conifex, and are committed to providing the support and resources the Lignum team requires to continue to deliver timely and professional services to its customer base."
Conifex will pay an aggregate purchase price of approximately US$4 million for Lignum, subject to certain post-closing adjustments, which it is funding from its existing available cash.