However, that did not occur as New Zealand's timber industry went into cardiac arrest, driven by several factors, including the exit of China from the marketplace.
"Everybody in the industry I talk to is hunkering down."
The Spectrum Group owns forests, sawmills, logging trucks and a log trading business and has grown from nothing in about six years.
Its two focus areas are South Taranaki/Whanganui and Gisborne.
"We have shut down two thirds of our mill at Te Kuiti and our intention was always to focus on our start-up mill in Gisborne - that was always our plan even before we did anything at Waverley. But like everyone else we are divesting our assets that are not paying at the moment. The industry is in dire straits. There is something like 7 million cubic metres of surplus logs sitting there and nobody knows when things will come right."
Glass said forest owners were their own worst enemies charging local processors more for product than they charged overseas players.
"Local processors are essentially subsidising their overseas competitors. We don't want subsidies ourselves, all we want is an even playing field."
Waverley Sawmills is being sold by Bayleys Real Estate Whanganui agents Russell Duggan and Jordan Davies with tenders closing on March 4 unless it is sold beforehand.