EUGENE, Ore. – Urban Lumber Co., a manufacturer of solid wood furniture salvaged from city trees, has purchased Urban Hardwoods LLC, a similar resource that also produces solid wood furniture from urban old growth trees.
While a purchase price was not disclosed, the sale, completed on Oct. 30, includes various assets of Seattle-area-based Urban Hardwoods, including manufacturing facilities and equipment.
Urban Lumber has been in business since 2006 and was founded by Seth San Felippo. Urban Hardwoods was founded in 2001 and later acquired by the Bartell-Barber family in 2012.
Both companies build furniture using trees salvaged from city streets, backyards and other areas in their specific regions of the Pacific Northwest where large trees are being removed. Their lines are produced from a variety of species ranging from oak and elm to maple, madrone and walnut to name several.
Urban Hardwoods employs 10 workers, and Urban Lumber employs 13, said Seth San Felippo, now owner and CEO of the two companies.
The companies are both vertical in nature with the capability to mill and dry lumber, essentially converting the product from log form to finished furniture. Their mills produce custom, thick, solid wood tops for pieces ranging from live edge dining tables and conference tables to benches, desks and occasional tables.
“I am extremely proud of the company we have stewarded for the past eight years, which has created beautiful products with a story to tell and employed fine craftsman right here in Seattle,” said Dave Barber, former owner of Urban Hardwoods and whose family is the founder of The Bartell Drug Co., a prominent Seattle-based Pharmacy Chain. “I’m confident that we have found the right buyer to continue to build on the great work at Urban Hardwoods.”
San Felippo said the purchase is well-timed because it will add capacity at a time when Urban Lumber was already looking to double the size of its shop to produce a major order.
He said another growth opportunity lies in each company’s customer base. For example, about 75% of Urban Lumber’s sales are to commercial and contract accounts including restaurants, with the remaining 25% for residential use. At Urban Hardwoods, he said, it’s about the opposite.
“They focus on residential, and that was another reason it was attractive,” he said. “It will help us capture both markets.”
He said that while they will share various resources, the companies will keep their names and be run as independent operations.
“It has been a great pleasure working with Dave and the Urban Hardwoods management team, and we expect nothing but continued success for the company moving forward as we take two regional live edge companies and integrate them into one stronger company,” he said.
The deal was arranged by Charlotte, N.C. –based Stump & Co. which served as an exclusive financial advisor to Urban Hardwoods.