Platinum Equity has signed a definitive agreement to sell NILCO to U.S. Lumber Group. Financial terms of the transaction were not disclosed. The sale is expected to close during the 4Q, subject to regulatory approval and certain closing conditions, as the company says in the press release received by Lesprom Network.
During Platinum Equity’s ownership, NILCO strengthened its leadership team underneath CEO Jim Smith, installed new financial controls and other best practices throughout the organization, expanded the company’s footprint and launched key new products. As a result, year over year NILCO’s revenue is up approximately 9% and EBITDA is up approximately 20% on a trailing twelve month basis.
NILCO, based in Hartville, Ohio, was founded in 1909 as a supplier of wood based products to manufacturers in the Midwest.
U.S. Lumber, based in Atlanta, is a distributor of specialty building products in the Southern and Eastern United States.
