Forest Systems confirmed today that it provided due diligence services to Madison Dearborn Capital Partners to support the Chicago-based private equity firm's efforts to value and negotiate its recently announced $3.7 billion agreement to acquire the milling and forest assets of the Boise Cascade Corporation.
Forest Systems provided Madison Dearborn with a strategic and financial analysis of Boise's 2.3 million acres of forestland, which are located in Oregon, Washington, Idaho, Minnesota, Louisiana and Alabama.
According to Rick Smith, president of Forest Systems, his firm's relationship with Madison Dearborn dates to 1999 when it acquired 250,000 acres in the U.S. South on behalf of investors from Packaging Corporation of America, one of Madison Dearborn's portfolio companies.
“We are very pleased that Madison Dearborn was successful in negotiating this transaction and we will continue to support them as they move toward closing it later this fall,” said Smith.