On Jan. 4, the Watermill Group ("Watermill") acquired Weston Forest Products Inc. ("Weston"), a distributor and remanufacturer of softwood and hardwood lumber and specialty panel products. Weston operates several facilities across eastern Canada and the U.S., providing products and services that are essential to commercial and residential construction as well as the production and shipment of industrial goods. Watermill is a Massachusett-based strategy-driven private investment firm.
Customers and suppliers of Weston benefit from the company’s diverse business model and concentration on niche markets, which has helped insulate Weston Forest from the usual impacts of commodity cycles and economic swings. The acquisition will allow Weston to continue to offer customers and suppliers a diverse range of products and services, while providing more opportunities to employees.
Watermill included Canadian private investment firm Walter Capital Partners as a co-invest partner. National Bank of Canada and TD Bank (together, the "Lenders") provided debt financing for the transaction.
Weston will retain its name and operate as a portfolio company of Watermill.
Bennett Jones LLP was Canadian legal counsel to Watermill, with a team including
Susan G. Seller,
Proskauer Rose LLP was U.S. legal counsel to Watermill, with a team including
Torkin Manes LLP was Canadian legal counsel to Weston and its shareholders with a team including
McCarthy Tetrault LLP was legal counsel to the Lenders with a team including