Investment banking firm buys Chase Lumber

Industrial Distribution staff -- Industrial Distribution, 4/16/2008 7:05:00 AM

New York investment banking firm Brooks, Houghton & Co. acquired Chase Lumber for an undisclosed amount, the Home Channel News Web site reported.

Aurora, Colo.-based Chase, which operates lumberyards in Granby, Colo. and Casa Grande, Ariz. and a door shop and truss plant in Aurora, posted sales of $40 million in 2006.

Venture capital firm Kachi Partners () owned a majority stake in the company but “did not want to support [Chase] going forward,” Chase CEO John Bradberry told the Web site.

“[Brooks, Houghton & Co.] are interested in Chase Lumber for the long term,” Bradberry told the site.

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