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Industry NEWS
long term engineered lumber new majority investors announced seeking new investors was the optimal way
distribution partnership between for the sexton group of companies to accomplish this and subsequently set forth
a set of objectives that would need to be met
pacific woodtech corporation and in order to ensure the new investors were
canwel building materials division matched to the values of the Company.
“I am excited to have PFM investing in
our future. They recognize that we are a
financially strong, growing organization with
The Sexton Family of Companies (“SFOC”), high performing employees and powerful
is pleased to announce that the Company customer, member and vendor relationships.
is in the process of concluding a transaction I look forward to continuing to drive success
that will see an ownership group led by PFM across the Company.” said Steve Buckle, CEO
Burlington, Washington-based Pacific Capital Inc. (“PFM”) obtain a majority share of Sexton Family of Companies.
Woodtech (PWT) is proud to announce a position of the Company. Current SFOC Chair, “This is an exciting day for Sexton. The
long-term agreement with Vancouver, British Brian Kusisto, will remain with the company
Columbia based CanWel Building Materials, as a board member and Sexton Investments acquisition is a testament to the hard-work
a division of Doman Building Materials will retain a portion of the ownership of SFOC. and dedication of everyone at Sexton and
Group Ltd to distribute Pacific Woodtech The transaction is subject to certain regulatory demonstrates the successful execution of our
Corporation’s full line of Engineered Wood strategy.” said Brian Kusisto, Chair of Sexton.
Products in Canada. approvals and other conditions customary for “Sexton is a classic Saskatchewan success
CanWel operates 15 Distribution facilities a transaction of this nature and is expected to story. A story that now includes Customers
strategically located across Canadian close in the fall of 2022. and members across Canada. We are honored
geographies and boasts a large and seasoned Earlier this year the Sexton and Kusisto to become part of the Sexton legacy. We look
team of dedicated EWP professionals. families determined that there was a need to forward to working with the Sexton team as
Pacific Woodtech Corp. acquired establish a plan that would carry the SFOC, they write a new chapter in their history.” said
LP Building Solutions’ (LP) (NYSE:LPX) inclusive of all operating divisions, forward Jeff Linner, Chief Investment Officer at PFM.
Engineered Wood Products (EWP) business on and ensure continued growth and success SFOC and PFM are excited about how this
August 1st, 2022. for the Company. It was determined that transaction will position the Company for
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www.lbmao.on.ca LBMAO Reporter - September-October 2022 13
