ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital, L.P. (“Wynnchurch”), a leading middle market private equity firm, announced the sale of a majority interest in Rosboro Holdings, Inc. (“Rosboro” or the “Company”) to One Equity Partners (“OEP”). Under terms of the transaction, Wynnchurch will continue to own a significant minority stake in the Company.

Headquartered in Springfield, Oregon, Rosboro is a leading manufacturer of engineered wood products including stock and custom glued laminated timber (“glulam”) and lumber used in residential and light commercial construction end markets. Following Wynnchurch’s investment in December 2016, Rosboro successfully separated from its captive timberlands, completed the acquisition of Western Structures, scaled the business significantly, built out its sales force to drive pull-through demand, and made investments to improve operations and grow its glulam product offerings.

Brian Crumbaugh, Partner at Wynnchurch, stated, “Rosboro represented an opportunity to invest in a company with a leading market position, differentiated product offering and long-standing customer relationships. We are proud of the management team’s accomplishments during our ownership period and are excited to continue our partnership with management during Rosboro’s next phase of growth.”

“Rosboro is exceptionally well-positioned to benefit from continued tailwinds within its core end markets,” added Chris O’Brien, Managing Partner at Wynnchurch. “We look forward to partnering with OEP and the Rosboro management team over the coming years.”

“Wynnchurch has been a great partner and provided tremendous support during their ownership. They have helped us drive continuous improvement across our operations and execute on multiple organic and inorganic growth initiatives. We are excited to partner with both OEP and Wynnchurch as we look to execute on our long-term growth initiatives,” said Rich Babcock, CEO of Rosboro.

“Rosboro is an excellent business making high-quality differentiated engineered wood products at scale,” said Matthew Hughes, Managing Director at OEP. “Rosboro is poised to benefit from a number of growth drivers including single-family residential housing starts, net migration to the U.S. West, increasing residential repair and remodel, and glulam’s increasing share against structural wood alternatives and other engineered wood products. We look forward to working with CEO Rich Babcock and his team to capitalize on a growing market opportunity.”

Houlihan Lokey Capital, Inc. and Perkins Coie LLP served as financial advisor and legal counsel, respectively, to Rosboro and Wynnchurch.

Wynnchurch is actively seeking investment opportunities for its $2.277 billion Fund V. In December, Wynnchurch acquired Appvion, a leading provider of specialty and high performance direct thermal coatings. Other recent Wynnchurch investments include: Owen, a leading provider of critical infrastructure equipment, aftermarket parts and services; Trimlite, a leading manufacturer and distributor of residential doors and related door products; Northern Wholesale Supply, a leading provider of RV and marine parts and accessories; and The Wheel Group, a leading designer and distributor of branded aftermarket wheels, specialty tires, and related accessories.

About Rosboro:

Rosboro is a leading manufacturer of engineered wood products used in residential and light commercial construction, including stock and custom glued laminated timber (“glulam”) and a variety of other lumber products. Founded in 1939 and headquartered in Springfield, OR, Rosboro has developed a unique product offering focused on customer-driven solutions. Rosboro operates out of two manufacturing campuses located in Springfield and Veneta, OR. For more information, please visit: https://www.rosboro.com.

About Wynnchurch Capital:

Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California, New York, and an affiliate in Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $4.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: https://www​.wyn​nchurch​.com.

About One Equity Partners:

OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit: https://www.oneequity.com.

Contacts

Chris O’Brien

Managing Partner

cobrien@wynnchurch.com
847-604-6108

Brian Crumbaugh

Partner

bcrumbaugh@wynnchurch.com
847-604-6124

Mike Teplitsky

Partner

mteplitsky@wynnchurch.com
847-604-6120

JD Frank

Vice President

jfrank@wynnchurch.com
847-604-6130

Alex Randall

Senior Associate

arandall@wynnchurch.com
847-604-6133

LOS ANGELES–(BUSINESS WIRE)–#CommercialRealEstate–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Partners, has completed an off-market acquisition of the Saugus Station Industrial Portfolio (“Saugus Station”), located in Santa Clarita, CA. Saugus Station consists of 24 buildings totaling approximately one million square feet across a 70 acre campus, as well as an adjacent 24 acre, fully horizontally improved industrial development parcel.

Saugus Station is 100% leased to tenants operating primarily in the film, television, entertainment and content production industry, and is within the broader San Fernando Valley industrial market. The San Fernando Valley achieved a 1.1% industrial vacancy rate in Q3 2021 and experienced 5.2% annual rent growth over the past five years, with minimal new supply under construction. Saugus Station will provide H.I.G. with attractive current cash-on-cash returns, as well as upside via a value-add business plan that is well positioned to benefit from the rapid expansion of film and television content production in the Los Angeles MSA.

“The acquisition of Saugus Station provides H.I.G. with a unique opportunity to capitalize on a supply constrained market for entertainment and content production warehouse space,” said David Hirschberg, Co-Head of H.I.G. Realty Partners. “H.I.G. will employ its value-add expertise to significantly enhance the portfolio’s cash flow.”

“With Los Angeles soundstages operating at full capacity and limited industrial inventory to house production equipment, sets, and props, we believe Saugus Station presents a very compelling investment opportunity,” said Adam Belfer, Principal of H.I.G. Realty Partners. “We look forward to implementing our capital plan to reposition Saugus Station into a best-in-class logistics facility that will serve both entertainment industry-focused and also local tenants in Santa Clarita and throughout greater Los Angeles.”

About H.I.G. Realty Partners

H.I.G. Realty Partners is the real estate platform of H.I.G. Capital, a leading global alternative assets investment firm with over $45 billion of equity capital under management.* H.I.G. Realty Partners manages $8.4 billion of assets and focuses on small-to-mid cap real estate, targeting both equity and debt investments across all property types located throughout the U.S., Europe, and Latin America. Equity investments are concentrated on the acquisition of value-add assets, employing a hands-on, operationally focused approach that seeks to generate substantial cash flow and asset appreciation through rehabilitating, redeveloping, repositioning and rebranding assets that have been capital starved and/or poorly managed. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. For more information, please refer to the H.I.G. website www.higcapital.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contacts

David S. Hirschberg

Managing Director

dhirschberg@higrealty.com

Ira Weidhorn

Managing Director

iweidhorn@higrealty.com

TORONTO–(BUSINESS WIRE)–Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) expects to announce its financial results for the fourth quarter and year-ended December 31, 2021 after the close of markets on Wednesday, March 9, 2022.

Granite will hold a conference call on Thursday, March 10, 2022 at 11:00 a.m. (ET). The toll-free number to use for this call is 1 (800) 918-9578. For international callers, please call 1 (416) 641-6701. Please dial in at least 10 minutes prior to the commencement of the call. The conference call will be chaired by Kevan Gorrie, President and Chief Executive Officer.

To hear a replay of the scheduled call, please dial 1 (800) 558-5253 (North America) or 1 (416) 626-4100 (international) and enter reservation number 22014895. The replay will be available until Monday, March 21, 2022.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 126 investment properties representing approximately 53.3 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Associate Director, Legal & Investor Services, at 647-925-7504.

Contacts

Teresa Neto, Chief Financial Officer

647-925-7560

or

Andrea Sanelli, Associate Director, Legal & Investor Services

647-925-7504