Atlas Holdings has completed the acquisition of Weyerhaeuser’s engineered wood commercial business for an undisclosed sum.
The division, which includes four manufacturing plants and 13 design and sales offices across the US, will be renamed RedBuilt and the headquarters will return to Boise, Idaho. Products include I-joists, LVL, open web joists and concrete shuttering and scaffolf planks.
Weyerhaeuser is retaining its iLevel residential engineered wood products.
Members of the former Trus Joist management team are joining RedBuilt as investors and managers of the business.
“We’re starting RedBuilt in a time of unprecedented market challenges because we have enormous confidence based on experience in the industry-leading products, people and innovative culture of this business,” said Kurt Liebich, former Trus Joist chief executive and now president and CEO of RedBuilt.
“The sale of these assets provides employees with a new owner that has the focus and long-term interest required for the commercial segment,” said Weyerhaeuser.
