Raute Corporation and the owners of Metriguard, Inc. have agreed on the purchase of the business of Metriguard Inc., Pullman, Washington, USA, as the company said in the press release received by Lesprom Network.
Metriguard, established in 1972, is the world leader in high speed strength grading technology for lumber and veneer. Metriguard sells and provides services for its equipment globally, with installations in North and South America, Europe, Asia, Africa, Australia and New Zealand. Metriguard’s business will continue by a newly established Raute’s subsidiary Metriguard Technologies, Inc.
The acquisition is made as an asset purchase. Intangible assets, working capital and fixed assets, except real estate, are acquired. Metriguard’s personnel will transfer in along with the acquisition.
The purchase price, estimated at $4.5 million, is paid in two installments. A base purchase price of $3.1 million is paid at closing, additionally there will be an earn-out payment based on net sales for a 12-month period following closing of the transaction.
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood and LVL (Laminated Veneer Lumber).
