Geneva Wood Fuels Acquired by Lignetics ~ August 2015
Lignetics is the leading manufacturer of premium wood pellets and Pres-to-Logs® fire logs used as a renewable fuel for home heating in the United States, in addition to manufacturing animal bedding, absorption products and barbeque wood pellets. Founded in 1983 and headquartered in Sandpoint, ID, Lignetics manufactures and distributes branded wood pellets.
Lignetics announced the acquisition of the assets of GF Funding LLC (formerly Geneva Wood Fuels), expanding its footprint into Maine and upper New England. Lignetics is the largest residential wood pellet manufacturing company in the U.S. which has a production capacity of approximately 600,000 tons of wood pellets per year. The company is now the only pellet manufacturing company that has wood pellet manufacturing plants on both the East and West Coast consisting of six plant locations in the states of Maine, Oregon, Idaho, West Virginia and Virginia.
Equity financing for the transaction was provided by Taglich Brothers. Additional senior and subordinated debt financing from Texas Capital Bank and Gladstone Capital Corporation was arranged by Taglich Private Equity LLC.
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