BID to Acquire Smith Sawmill Service
Vancouver, BC, June 15, 2022 – BID Group is pleased to announce it has entered into an agreement to acquire Smith Sawmill Service. The transaction brings together two customer-focused organizations and further expands BID’s industry-leading operational life cycle product and service offerings to include the essential recurring saw and tooling capabilities required to support modern wood processing operations.
Smith Sawmill Service is one of the largest suppliers and service providers of saws, cutting tools, filing room equipment, and critical consumable products to the wood processing industry. Smith serves the North American market with both proprietary cutting technologies and industry-leading brands. With locations in Texas, Louisiana and North Carolina, Smith is a recognized service leader, equipped to meet the growing customer demand for personalized saw and knife repair and reconditioning solutions.
“We are excited to partner with the Smith team. The combination of our organizations’ capabilities is a natural fit given our shared emphasis on excellence in total customer experience,” said Steven Hofer, BID’s Executive Vice President, Strategy and Business Development. “The comprehensive new line of products and services will offer our customers added value through the best complement of modern tooling technologies and services to meet their growing demand for the highest quality, innovative outcomes. Incorporating the Smith product and services into our BID Turnkey and wood process system offerings further compliments the investments BID has made in the development of its own cutting tools solution, Blade.”
“I am incredibly pleased with the opportunity to unite with an industry leader like BID.” Said Paul Smith, President and CEO of Smith Sawmill Service. “I would like to thank our team for their dedication and hard work to build a thriving business. We are confident this partnership will provide our employees, suppliers, and loyal customers with greater opportunities and benefits.”
The transaction is expected to close in Q3 2022 and is subject to customary closing conditions.