BDO Capital Advises on the Sale of Ace Pole Company
Boston, MA – October 7, 2020 - BDO Capital Advisors, LLC (BDO Capital) is pleased to announce the sale of Ace Pole Company, Inc. and affiliated entities (collectively Ace Pole or the Company) to Beach Timber Company. BDO Capital served as exclusive financial advisor to Ace Pole Company, working closely with its shareholders and management team throughout the sale process. The transaction closed on July 31, 2020.
Founded in 1964, Ace Pole is one of the largest producers of chromated copper arsenate (CCA) treated wood utility poles in the United States. Owned and operated by the Eunice family for multiple generations, Ace Pole was built on core values of providing its customers with a high quality, readily available product with extraordinary service and support. With a 50+ year track record, Ace Pole has built a strong reputation as a trusted source for premium quality utility poles across a wide range of sizes and retention levels tailored to the unique needs and specifications of its global customer base, which includes utilities, electric cooperatives, municipalities and other entities. Ace Pole is one of a few industry players that competes effectively on a global scale due to its production capacity, proven track record and strategic proximity to critical raw material sources as well as international seaports on the Eastern and Gulf Coasts, facilitating worldwide distribution.
Founded in 1986, Beach Timber Company is a wood products manufacturer operating a white pole mill, lumber mill and mulch plant in nearby Alma, GA. “This marks the beginning of a new and exciting chapter for our companies, employees, family and community. It’s a family business acquiring a family business and we look forward to continued success for generations to come,” commented Susan Rye of Beach Timber Company. “We are excited to build on the successful legacies of both companies and are strongly positioned to achieve our vision for future growth.”
Garry Eunice, former shareholder of Ace Pole Company, commented, “We share Susan’s enthusiasm for the transaction. As a family-owned business, it was important to us that we find a partner with a similar mission and corporate values. Beach Timber presented a unique opportunity for our employees to grow within the combined platform while continuing to serve our customers. We are grateful to BDO Capital for helping us navigate the transaction process from start to finish.”
“It was a pleasure working with the Eunice family to bring this transaction to a successful closing,” commented Valentina Midura, Senior Managing Director at BDO Capital.
“This transaction builds upon our extensive manufacturing and distribution credentials, while also demonstrating that, despite challenging market dynamics due to COVID-19, deals are still getting done,” added Patrick Bisceglia, Managing Director at BDO Capital.