Matt Weaber, the grandson of Weaber Inc.’s (Lebanon, Pa.) founder, has recapitalized the business and returned controlling interest in the company back to the Weaber family.
The recapitalization move comes three years after Weaber Inc. was purchased by Cleveland-based Resilience Capital Partners, a private-equity firm, in 2012 in a deal that merged the company with Taylor Lumber Inc. (McDermott, Ohio). Taylor Lumber was sold to Ohio Valley Veneer last year.
Cyprium Partners, another Cleveland private-equity firm, helped Weaber recapitalize and return ownership to his family, which started the company in 1941.
The Weaber family and the company’s employees feel that this “is an incredibly exciting time,” said Weaber in a statement.
“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,” he said. “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.”
