The sale provides Jacob A Weaver Company with a new owner to steward the business and respect its unique workforce and culture.
While at their previous company, the experts at Ankura Capital Advisors, LLC acted as the sole financial advisors to Jacob A Weaver Company during its acquisition by Olympic Forest Products.
Founded in 1994, Jacob A Weaver Company is a family-owned enterprise in Cochranton, Pennsylvania. It produces and supplies pallets and various other wooden items. The company collaborates with its clients to offer sustainable pallet solutions for typical pallet design and procurement issues across the supply chain.
“Jacob A Weaver Company is in the right hands to take the company forward for the next thirty years,” commented Jacob Weaver, founder and owner of Jacob A Weaver Company. “Finding a partner who would take care of the business and respect our unique workforce and culture was of the utmost importance. The existing management team will remain in place and continue to lead the company forward, and I am excited to see it continue to grow under the ownership of Olympic Forest Products.”
Jacob Weaver and his Montana mill, Weaver Wood, which was not part of the transaction, were featured in Pallet Enterprise magazine in this 2021 article.
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Located in Cleveland, Ohio and established in 1981, Olympic Forest Products is a pioneer in pallets and pallet management services. Through its acquisition of Jacob A Weaver Company, Olympic Forest Products has further broadened its manufacturing operations, enabling it to serve its nationwide clientele with increased efficacy.
“The Weaver name is one which has been around the pallet industry almost since its inception, so we will be sure to do well by Jacob,” noted Dan Andrews, CEO and owner of Olympic Forest. “We are humbled to take on the stewardship of this great company and ensure the Weaver name continues to be revered. Many thanks to the Ankura Capital Advisors team; this is our second transaction with the team, and we are pleased with how smooth and efficient they are in running their processes. This transaction is the largest we’ve undertaken but will, no doubt, be a foundation of our business for years to come.”
“It has been an honor to be a part of preserving the legacy of Jacob and the Jacob A. Weaver Company,” reflected Kathleen Lauster, Ankura Capital Advisors Senior Managing Director. “The wood products market has been through a topsy turvy couple of years but our expertise in working with family-led businesses in this sector allowed for a great outcome and we are pleased to find the company a home with a new owner who will only serve to grow the business while maintaining its unique company culture.”
As part of the deal, Willis E. Sommers Co, which had been a significant subcontractor for Jacob A Weaver Company since 2000 and is owned by Willis E. Sommers, was also sold, along with all the real estate, machinery, and equipment of both firms.
Jacob A Weaver Company received legal counsel from Cole Schotz P.C., while Singerman, Mills, Desberg & Kauntz Co., L.P.A. provided counsel to Olympic Forest Products during the transaction.
About Olympic Forest Products
Olympic Forest Products is a prominent provider of pallets and pallet management services, catering to various industries with single and multi-plant operations across the country. Its clients rely on its steadfast dedication to providing exceptional service, premium resources, and comprehensive supply chain knowledge. With its nimble approach and tireless determination, Olympic offers customized programs that are both cost-efficient and dependable while prioritizing sustainability.
About Ankura Capital Advisors, LLC
Ankura Capital Advisors, an indirect subsidiary of Ankura Consulting, comprises experienced investment bankers and industry experts dedicated to refining clients’ capital structures for optimal profitability and growth. Its team boasts extensive strategic, transactional, operational, and financial expertise across multiple industries. By combining the precision of an investment bank with the meticulousness of a consulting firm, we provide structured execution services that leverage our global network of investment banking professionals, financial sponsors, and corporate leaders to bring value to our clients.