Wood pellet industry pioneer acquires the Michigan-based company
Beringea, the transatlantic venture capital investor, has exited its investment in recycler and wood pellet manufacturer Fiber By-Products following an acquisition of the company by Lignetics Group, the United States leader in branded consumer wood pellet products for home heating with adjacent categories including barbecue grilling pellets and pet- and animal-related wood-based product offerings. Beringea U.S. initially invested in Fiber By-Products in 2013.
Fiber By-Products, based in White Pigeon, Mich., offers wood waste producers an environmentally friendly and cost-effective approach to disposing of their waste. Fiber By-Products processes that waste into consumable products, including animal bedding, boiler fuel, wood mulch and premium wood pellets used to heat homes and businesses.
Lignetics is the largest consumer-focused wood pellet manufacturer in the United States, with production capacity of over 1.4 million tons per year. Lignetics has been upcycling wood waste into home heating pellets since 1983 and into premium barbecue pellets since 1990. Annually, Lignetics diverts over 2 million tons of wood waste, or more than 100,000 truckloads, into renewable, sustainable, value-add consumer products.
“We are pleased to partner with the industry leader in the residential wood pellet market, positioning Fiber By-Products for their next phase of growth.A recycled wood pellet offers an important alternative to fossil fuels for heating homes, and Lignetics' breadth and depth will allow Fiber By-Products to reach an even larger segment of that market,” said Michael Gross, managing director of Beringea.
“We are thrilled to welcome Fiber By-Products to the Lignetics platform,” said Brett Jordan, Chief Executive Officer of Lignetics. “We see a tremendous opportunity to continue building Fiber By-Products as a pre-eminent heating pellet manufacturer in the Upper Midwest.”
Lignetics, headquartered in Broomfield, Colorado, is the largest residential wood pellet manufacturing company in the U.S. The company’s innovative eco-friendly offering includes premium wood pellets for super-efficient home heating, barbecue pellets that naturally seal in perfect wood-fired flavor, and superior all-natural high-performance cat litter and animal bedding. Lignetics delivers these innovative all-natural products through national retail partners and directly to consumers via the only national network of wood pellet manufacturing plants spread across the U.S. and Canada with 25 different plant locations. For more information on Lignetics and all of its products, visit www.lignetics.com