ShoreBridge Merchant Partners and Astara Capital Partners completed the investment in Cross City Lumber.

ShoreBridge Merchant Partners, an alternatives-focused investment and merchant bank, and Astara Capital Partners, a private equity firm, completed the investment in Cross City Lumber, a sawmill that manufactures specialty and dimensional grades of lumber. Financial terms were not disclosed. Astara leveraged its network of sawmill executives to source the opportunity and to underwrite a series of capital projects that will substantially increase the capacity of CCL and significantly reduce its breakeven point. In addition, Astara is actively seeking and evaluating investments in other Southern Yellow Pine mills in the Southeast US that will complement CCL.