Boise Cascade Reached Agreement to Acquire Brockway-Smith Company

SEATTLE (Scrap Monster): Boise Cascade announced that it has reached an agreement to acquire Brockway-Smith Company (BROSCO) - a leading wood products distributor specializing in doors and millwork for a purchase price of $172 million.

The transaction includes acquisition of BROSCO’s two full-scale distribution centers in Hatfield, MA and Portland, ME. This will add to the 10 millwork locations currently operated by Boise Cascade. The purchase deal is expected to close during Q4 this year, subject to customary closing conditions including receipt of antitrust approval. The transaction will be funded from existing cash balances, Boise Cascade said.

The financial advisor to Boise Cascade was Wells Fargo Securities, LLC, whereas Perkins Coie LLP acted as outside legal counsel in the transaction.

Commenting on the deal, Jeff Strom, Executive Vice President, Building Materials Distribution, Boise Cascade noted that the company is excited to bring the outstanding BROSCO team on board. The acquisition will further the company’s strategy to expand its millwork business.

Meantime, Charlie Smith, President & CEO of BROSCO said that Boise Cascade is a company that is very similar to it in culture and commitment to customers and associates. All of its customers will continue to enjoy the outstanding BROSCO products and services, he added.