Besse Forest Products Group shutters Midwest mills
Besse Forest Products Group has officially closed six of its green lumber sawmills and veneer mills in Wisconsin and Michigan. The closures mark a significant shift for the forest products industry in the Midwest, and the assets from these facilities are now up for sale.
The operations, which include facilities in northern Wisconsin and in Michigan, were integral to the production of materials used worldwide in cabinets, flooring, furniture and more. This closure presents a unique opportunity for industrial operators to acquire large-scale, fully operational sawmills and veneer mills, but only until the end of October, when the turnkey sale will conclude.
The real estate at four Wisconsin sites (Ladysmith, Goodman, Mattoon, and Rice Lake) is owned and will be included in the sale, while the facilities in Gladstone and Baraga, Michigan, are leased. The Rice Lake facility is situated on prime lakefront real estate, which is well suited for redevelopment, according to the company.
If no buyers secure the entire operation by October 31, the assets will be sold off in pieces starting in November. Turnkey buyers can submit bids on single, multiple or all facilities.
Bob Pabst, president of HyperAMS (one of the companies facilitating the sale), emphasized the potential significance of the sale. “Besse Forest Products Group was a major player in wood products, and this sale represents a rare opportunity for an operator to increase their footprint with ready-to-run facilities,” he said.
Colin Murphy, president of James G. Murphy Co., which is co-managing the sale, added that the offering is expected to generate significant interest from those looking to expand into the forest products industry. “This could be a last-chance opportunity for buyers seeking a comprehensive acquisition of fully functioning facilities,” he noted.
Inspections of the properties and equipment are available by appointment throughout October. Learn more about the auction here.
