Boston-based investment firm, the Watermill Group, has completed an investment in Musser Lumber and its principal operating subsidiary, Musser Biomass and Wood Products, collectively known as Musser. This strategic partnership positions Musser for enhanced growth and innovation in its product offerings.
Ed Musser, President and CEO of Musser Biomass and Wood Products, welcomed the partnership, noting the Watermill Group's industry expertise as a crucial asset in supporting Musser's growth ambitions. Located in Rural Retreat, Virginia, Musser has transitioned from a traditional sawmill to a leader in eco-friendly, high-quality dried wood fiber production, using advanced low temperature drying technology to serve various markets, including composite wood products and residential heating solutions.
"Musser represents a compelling opportunity to invest in a sustainable business that serves growing markets and has exciting avenues for growth," said Robert Ackerman, Senior Partner, Watermill Group. "For more than half a century, Musser Lumber Company has been a respected supplier in the lumber industry. In recent years, it has become a pioneer in biomass wood fiber, trailblazing new paths to success both in products and processes. The Watermill Group couldn't be more excited about the opportunities ahead for this partnership."
The investment was supported by financing from Energy Impact Partners' Credit Group and an operating line of credit from Pinnacle Financial Partners. Watermill received financial due diligence from Richter Consulting and legal counsel from Jasso Lopez, while Musser was legally advised by Gentry Locke and received advisory services from Brown Gibbons Lang & Company.
With over four decades of experience in transforming companies, the Watermill Group aims to leverage its strategic insight to foster growth at Musser, which has been a prominent player in the lumber industry since 1965. Under this new partnership, Musser is poised to further develop its market presence and explore new uses for its biomass products.
