New Head For Hardwood Mills

New Head For Hardwood Mills:Private equity firm H.I.G. Capital, Miami, Fl., has partnered with management to acquire Rossi American Hardwoods, Cromwell, Ct., and Hardwood Lumber Manufacturing, Charlotte,
N.C.H.I.G. has formed American Hardwood Industries Inc., Cromwell, Ct., to parent the two vertically integrated suppliers.Rossi American consists of milling complexes Blue Triangle Hardwoods, Everett, Pa.; Scotland Hardwoods, Scotland, Ct.; Graham Lumber Co., West Linden, Tn., and Emory River, Oak Ridge, Tn.; sales offices Cross Creek Sales, Augusta, Ga., and Legacy Lumber, Erie, Pa., and dry kilns in Shelby, N.C., and Edgefield and Saluda, S.C. The company is led by Ted Rossi, who will serve as chairman and c.e.o. of AHI.Hardwood Lumber Manufacturing, including offices in Charlotte and mills Emporium Hardwoods, Emporium, Pa., and Northern Hardwoods, South Range, Mi., is headed by David Marshall, who will be president and c.o.o. of AHI.GÇ£We are very excited about partnering with one of the top management teams in the sector,GÇ¥ said H.I.G. managing director Brian Schwartz. GÇ£Rossi American Hardwoods has developed a reputation as a top quality supplier in international markets. HLM offers a sophisticated, metrics-oriented and disciplined management approach that is unique in the industry.GÇ¥H.I.G. first invested in the forest products sector 11 months ago with Augusta Lumber, Waynesboro, Va.
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