Blue Sage Invests in Baxley-LogPro
By Business Wire News
By Business Wire News
The Baxley-LogPro Holdings, Inc. (“Baxley-LogPro”) management team and Blue Sage Capital (“Blue Sage”) are pleased to announce that Blue Sage recently completed a majority investment in Baxley-LogPro. Located in Hot Springs, AR, with an additional manufacturing facility in Baxley, GA, Baxley-LogPro is a leading manufacturer and supplier of equipment and systems for the forest products and biomass industries. Baxley-LogPro represents the combined entity of Baxley Equipment Company (“Baxley”) and Price LogPro, LLC (“LogPro”). Baxley manufactures and supplies blue chip customers and independent sawmills with custom engineered equipment and control systems that maximize lumber yield and reduce labor costs. LogPro manufactures machinery for sawmill logyards, engineered wood products plants, pulp and paper plants, chip mills, and pellet mills.
President Russell Kennedy allowed, “We are excited to partner with Blue Sage as we work to take Baxley-LogPro into its next stage of growth and development, and believe that the combined skills and resources will allow us to better serve our customers.”
Jim McBride, Co-Founder and Managing Member of Blue Sage, stated, “Baxley-LogPro and the team are representative of what we like to do in growing and building small/middle market businesses; partner with capable teams who have staked out strong defensible positions of leadership in their unique industry vertical. We look forward to working with Russell Kennedy, Chris Raybon, Pat Conry, Jim Krauss, Josh Krauss, and the rest of the team in continuing Baxley-LogPro’s growth trajectory.”
About Blue Sage
Blue Sage Capital recently closed its second fund, Blue Sage Capital II, L.P. Blue Sage has over $200M AUM and invests in profitable, growing, lower middle-market industrial, manufacturing, service and distribution companies with revenue of $20 to $100 million and EBITDA of $5 to $10 million. Of particular interest are opportunities to partner with founders as the first round of institutional capital in a recapitalization transaction and companies that enjoy leadership positions in niche industries.
Blue Sage was represented in the transaction by Graves Dougherty Hearon & Moody (legal); the Lockton Companies (insurance); Flieller, Kruger, Skelton & Plyler (tax); and Maxwell Locke & Ritter (accounting). Deloitte Corporate Finance served as Baxley-LogPro’s financial advisor.