Cedar Creek, an Oklahoma City-based wholesale lumber company, has signed a letter of intent to purchase Epperson Lumber within 60 days.
Epperson is based in Statesville, N.C., just north of Charlotte, and serves companies from Richmond, Va., to Charleston, S.C., to Knoxville, Tenn. Terms of the deal weren't disclosed.
"This acquisition underscores our commitment to growing the footprint of Cedar Creek and opening new markets," Cedar Creek CEO Bill Adams said in a statement issued Friday. "We view this as a great opportunity to increase our presence outside of our traditional mid-South markets and enter what's forecasted to be one of the best growth areas in the country."
Cedar Creek serves 12 states in the mid-South and Midwest from 11 locations, none of them east of central Tennessee. It was recapitalized last May by Charlesbank Capital Partners.