Brookfield-Backed Lumber Company to Be Sold for $1.1B
September 06, 2013
Ainsworth Lumber (TSX: ANS), a private equity-backed engineered wood products manufacturer, has agreed to be acquired by Louisiana-Pacific (NYSE: LPX) for about $1.1 billion. Brookfield Asset Management, which owns 54% of Ainsworth, has pledged to support the transaction. Brookfield, through its Special Situations Group, took its majority position in the company via a $56.25 million PIPE investment in May 2010.