Astara Capital Partners, LLC has formed Camden Timbers, LLC to acquire and restart the assets of Victory Lumber, LLC, a Southern Yellow Pine sawmill located in Camden, Arkansas. Camden Timbers is Astara's second sawmill investment in the ACP Lumber Holdings, LLC platform following its acquisition of Cross City Lumber, LLC in April 2021.
Astara began working on the opportunity in 2020 after it was contacted about the mill by a group of sawmill executives with whom Michael Ranson, Astara's Managing Partner, had worked in the past. This team of executives, led by Brett Bray, was responsible for restarting Caddo River Forest Products, another mill in Arkansas where Mr. Ranson and Bob McKagen, CEO of ACP Lumber, served as board members.
"The Camden Timbers team has developed a comprehensive plan to invest significant capital in the mill," said Mr. McKagen, "and ACP Lumber is excited to support the project. Brett and his team's plan will create a preeminent small-log timbers mill that is highly synergistic to CCL and complements our focus on specialty and dimensional lumber."
