Diversified Industrials
LOTS Group has acquired Bellwether Forest Products
Published January 6, 2022
Meridian Capital LLC Advises LOTS Group AB in its Acquisition of Bellwether Forest Products
Meridian Capital LLC (“Meridian”), a leading Seattle-based middle market investment bank and M&A advisory firm, is pleased to announce the successful acquisition of Bellwether Forest Products, LLC (“Bellwether”) by one of its clients, LOTS Group AB (“LOTS” or the “Company”), a subsidiary of Scania.
Based in Stockholm Sweden, LOTS Group provides industry leading transport services within the heavy industry across the globe. LOTS pioneers the use of new technology while implementing lean working methods to prepare its customers for the autonomous, electric, and digital future of transport. The Company is a wholly owned subsidiary of Scania, a Swedish manufacturer of commercial vehicles including heavy trucks and buses – Scania operates as a brand under Volkswagen (ETR: VOW3).
Bellwether Forest Products, LLC, is a vertically integrated timber company based in Camden, South Carolina. Bellwether provides a single-source solution for landowners including timber purchasing, logging, and timber hauling. The Company services REITS, TIMOs, mills, and other private, public, and institutional landowners across South Carolina.
This strategic acquisition expands LOTS’ presence in the North American market and establishes its first U.S. operations, solidifying the Company’s long-term commitment of delivering leading transport and associated support services to the North American market. The acquisition will allow the Company to extend its service offering to new and existing clients, leveraging Bellwether’s extensive experience in the region.
“LOTS is very excited to build upon its expansion into North America through the acquisition of Bellwether in South Carolina. The management team there has established one of the most professional and successful transport operations in the U.S. Southeast, and we are really looking forward to joining forces to accelerate the growth trajectory and creating the model for the future of transport in the U.S.” said Max Blatt, CEO of LOTS Group.
Daniel Bonna, Head of Corporate Development at LOTS Group, said, “Meridian worked with us for nearly two years as we developed and refined our strategy for entering the U.S. market through acquisition. Meridian helped us evaluate many opportunities and ultimately find an ideal partner that strongly fit with LOTS’ expertise in the forest industry and aligned culturally. The team was instrumental in helping us navigate and accomplish an international acquisition with the added challenge of COVID-19 travel restrictions.”
Brian Murphy, President and Managing Director at Meridian, said, “The acquisition of Bellwether provides a great beachhead for LOTS in the U.S. market. With professionalized operations and a strong market reputation, Bellwether will be well positioned to leverage the resources of LOTS to capture greater market share and accelerate growth. We are excited to see the technology and innovation that the companies will bring to the forest industry.”
This transaction represents continued momentum for Meridian’s Diversified Industrials practice. Other recent transactions include:
- Shoemaker Manufacturing’s acquisition by CSW Industrials
- Rainier Industries’ acquisition by LFM Capital
- Weatherhaven’s acquisition by White Wolf Capital
Meridian served as the exclusive financial advisor to LOTS on the transaction, while Lane Powell PC provided legal advisory services and Moss Adams provided tax and accounting advisory services.
For more information on Meridian Capital LLC click here.
ABOUT LOTS GROUP AB
LOTS Group AB is a wholly owned subsidiary of Scania, whereas Scania develops and provides commercial vehicles, LOTS puts them in motion. The Company provides industry leading transport services within the heavy industry globally, using the latest technology to continuously improve transport. The Company is based in Stockholm, Sweden with seven locations across Europe, Asia, South America, and North America. For more information please visit: https://www.lotsgroup.com
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CEO, Managing Director
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About Meridian Capital
Meridian Capital LLC is a leading independent middle market M&A advisory firm with locations in Seattle, Salt Lake City, the Bay Area, and Portland. Meridian has served as a trusted advisor to business owners on complex corporate finance, M&A and strategic challenges for over 29 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of financial, transactional, and operational professionals on your side, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace defense & space, food, beverage & agribusiness, business services, consumer, diversified industrials, engineering & construction, building products, technology, and telecommunications. Meridian also offers clients unparalleled cross-border capabilities through its REACH M&A Partners network.
