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PMCF Advisors, LLC (“PMCF”) is pleased to announce that it served as the exclusive investment banker to Besse Forest Products Group (“Besse” or the “Company”) in its sale to Hoffmann Family of Companies (“HFOC”), complementing its existing Ferche Millwork operations.
Established in 1966 and headquartered in Escanaba, MI, Besse is one of the largest privately-owned producers of hardwood veneer, lumber, and specialty plywood (https://bessegroup.com/). The Company supplies products crucial for manufacturing cabinets, doors, flooring, furniture, industrial pallets, millwork, musical instruments, railroad ties, sporting goods, wall panels, windows and other wood products used worldwide. Besse has steadily grown its footprint to ten manufacturing facilities operating in northern Michigan and Wisconsin, including four veneer mills, four sawmills, one lumber-drying concentration yard, and one cut-to-size plywood manufacturing mill.
HFOC is a multi-vertical family-owned company consisting of over 100 national brands with 9,000 global employees and businesses located in 30 countries around the world (https://hfcompanies.com/). HFOC’s verticals include aviation, agriculture, financial services, hospitality, business & professional services, industrial, manufacturing, marine, media & marketing, real estate and transportation. HFOC’s Ferche Millwork is headquartered in Rice, MN and is a leading manufacturer of hardwood mouldings in North America and internationally. It is recognized for providing high quality standard mouldings & veneered millwork.
The combination of Besse and Ferche strengthens both businesses by increasing their scale and footprint with over 2 million square feet of production across all the facilities and a workforce of more than 1,400 people. The acquisition of Besse further positions HFOC as a prominent player in the wood products manufacturing industry.
PMCF served as the exclusive investment banker to Besse. Greg Besse, CEO and shareholder stated, “We are incredibly grateful for the expertise and dedication of Joe Wagner and the PMCF team. They brought creative solutions to the table, demonstrated unwavering tenacity, and successfully navigated a dynamic market environment. We highly recommend them to any business owner considering selling their company.”
Joe Wagner, Managing Director of PMCF, added “Greg grew Besse Forest Products into one of the foremost hardwood veneer and lumber milling manufacturers in the heart of the highly sought-after Glacial Growing Region. We are thrilled Greg selected PMCF to manage this process and we look forward to witnessing the success a partnership with HFOC and Ferche will provide all parties.”
The transaction closed in March 2024. Foster Swift Collins & Smith PC served as legal advisor to the Company.
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on manufacturing, distribution, plastics & packaging, business services, software & technology, healthcare, and consumer, food & retail industries.
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