Structurlam Mass Timber closes $83.5 million sale of assets to Mercer

By Angela McDaniels

Tacoma, Wash., June 15 – Structurlam Mass Timber Corp. closed on the sale of substantially all its assets to Mercer International Inc. for $83.5 million, according to a company news release.

As previously reported, the company announced in April it had entered into a stalking horse asset purchase agreement with Mercer for $60 million.

Mercer’s revised $83.5 million bid was the winner at an auction on May 24. Weyerhaeuser Co.’s $80 million bid was named the backup bid.

The company received U.S. court approval of the sale during the sale hearing conducted as part of the Chapter 11 proceedings. It also received sale approval from the Supreme Court of British Columbia on June 1.

The debtor is a manufacturer of mass timber solutions and has headquarters in Penticton, B.C. Its case is being jointly administered with Structurlam Mass Timber U.S., Inc. under case number 23-10497.The company filed Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on April 21.

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