Cole Schotz Represents Aurora Management Partners as Federal Receiver for Independence Lumber, Inc.

July 12, 2021Attorneys: Gary H. Leibowitz and Irving E. Walker
Cole Schotz P.C. represented Aurora Management Partners (“Aurora”), a turnaround and restructuring consulting firm, as the court appointed federal receiver for Independence Lumber, Inc.

Aurora managed Independence Lumber’s operations in a Federal Receivership in the United States District Court for the Middle District of North Carolina, and in conjunction with Three Twenty-One Capital Partners’ (“3-21”), ultimately sold its two sawmills to Woodgrain Millwork, LLC (“Woodgrain”). 3-21 acted as the exclusive investment banker for the purpose of running a process to sell Independence Lumber. The sale was effectuated with court approval in the Federal Receivership led by Cole Schotz.

Independence Lumber, which produces green and kiln-dried lumber, operates two sawmills in Independence, VA and Elkin, NC. Woodgrain, one of the largest millwork operations in the world, expands its capacity to produce lumber for its internal mills and external customers through the acquisition.

The Cole Schotz team was led by members Gary H. Leibowitz and Irving E. Walker.

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