DLH wraps up divestment of Inter-Continental Hardwoods
The Danish timber merchant Dalhoff Larsen & Horneman (DLH) has completed the sale of its US subsidiary Inter-Continental Hardwoods. The company announced a deal with the private equity firm American Industrial Partners (AIP), which will pay DKR60m for the firm. The two parties put pen to paper on 1 August 2012. Inter-Continental Hardwoods had booked a 14% decline in revenues to DKR37m in the first three months of this year. EBIT tumbled to DKR1m in the same period, having stood at DKR30m in the same stretch just one year earlier.