LEBANON, Pa., July 22, 2015 /PRNewswire/ -- Weaber, Inc. ("Weaber"), based in Lebanon, Pennsylvania, announced today that its CEO, the grandson of Weaber's founder, Matthew G. Weaber, has led a recapitalization of its business which has transitioned a controlling interest in the company back to the Weaber family. Cleveland based Cyprium Partners, a private equity firm focused on making non-control investments, supported Mr. Weaber in the recapitalization of the Company. Weaber is a leading producer of high quality hardwood products including Oak flooring, Poplar and Oak moulding, finished trim boards, plantation shutter louvers, and hardwood stair components which are sold throughout the country to pro-contractor yards, specialty flooring distributors, big box retailers, building products wholesalers and various other outlets.
According to Matthew G. Weaber, President and Chief Executive Officer, "This is an incredibly exciting time for my family and our employees. As a result of this transaction, our business is well positioned for substantial growth in the industry and will allow us to better serve our customers and our community. As a testament to our management team, market strategy and strategic focus, the Company has attracted an experienced investor group in Cyprium Partners who we believe are committed to supporting our Company for the years to come."
Mr. Weaber's financial advisors were LM + Co Capital, New York, NY; Stanilla, Siegel and Maser LLC, Lebanon, PA; legal counsel was Reilly, Wolfson, Sheffey and Lundberg, LLP, Lebanon, PA.
About Weaber, Inc.
The company was founded in 1941 by Walter H. Weaber. Walter's son Galen grew the company into a leading U.S. value-added processor of hardwood products for use in the residential repair and remodel ("R&R"), new construction and hobby markets throughout the United States and Canada.
In addition to its state-of-the–art sawmill, Weaber has extensive processing and finishing capabilities that enable it to produce a wide range of lumber products, including surfaced four sides ("S4S") boards, flooring, moulding, stair parts, finger-jointed products, edged glued products and kiln-dried lumber from Oak, Poplar and other hardwood species. Weaber utilizes sustainable environmental practices to source its lumber locally from the Appalachian Mountain region.
The Company competes in the $27.2 billion wood products markets and employs more than 600 people. Weaber has developed a premier reputation over six decades by pairing its industry-leading customer service with its high quality products produced from the finest hardwood. Weaber serves a diverse customer base, which includes pro-contractor yards, flooring distributors, building products wholesalers, big-box retailers and other wood and related forest products manufacturers.
SOURCE Weaber, Inc.