London and Edinburgh, 20 September 2022
Cairngorm Capital Partners LLP (Cairngorm Capital) is pleased to announce that its portfolio company, National Timber Group (NTG), has acquired SV Timber Limited (SV Timber).
Established in 2004, SV Timber is a specialist, independent timber merchant supplying an extensive range of timber materials to a broad range of trade and commercial customers, including joiners and manufacturers, from three branches across the Midlands. SV Timber has a strong reputation for outstanding service and quality, recently supplying the timber for the Commonwealth Games in Birmingham. SV Timber employs 50 people and, in 2021, achieved revenues of £17m.
This transaction is well-aligned with NTG’s strategy to become the leading, independent timber processing and distribution group in the UK, with a focus on value-added products and industry-leading margins. SV Timber fills a geographic gap in NTG’s existing branch network and further extends its customer reach within the Midlands.
SV Timber’s shareholders, Edward Holder and Richard Rowley, will remain with the business and continue to play leading roles in the integration and combined growth of the group going forward, including the relocation of SV Timber’s flagship site from Ilkeston to new, larger premises in Nottingham.
Rob Barclay, Group Chief Executive of National Timber Group said, “We are delighted to welcome SV Timber to the Group – our shared expertise and commitment to our customers makes this an obvious and complementary partnership. Together, we will extend our range of services in the Midlands, improving our customers’ experience.”
Edward Holder added, “As the founder of the business, I am extremely proud of what the team at SV Timber has achieved to this point. We know that the business is capable of achieving much more over the coming years. The priority was to find a partner with shared goals and values who would help us to fulfil the future potential. We were impressed with National Timber Group’s focus on product quality and its commitment to the highest standards of customer service. We are confident that we have selected the right partner and that SV Timber will continue to prosper within the enlarged Group.”
NTG was advised on this transaction by Addleshaw Goddard (legal), BDO (financial and tax), and Marsh (insurance). The shareholders of SV Timber were advised by Cooper Parry (corporate finance and tax) and Knights (legal).
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Notes for editors
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in privately-held, strongly-performing, mid-market growth companies with long-term growth potential, operating in manufacturing, distribution and services industries. The firm’s goal is to build and realise value through growth and performance improvements. Cairngorm Capital’s unique mix of sectoral expertise and investment skill enables it to be actively involved in the strategy and operational focus of portfolio companies, partnering with management teams to grow revenue, enhance margins, improve cash flow or consolidate industry leadership positions.
Cairngorm Capital’s current portfolio includes majority owned stakes in:
E-zec Medical
Independent Builders Merchants Group
MRO+ Solutions Group
Millbrook Healthcare
National Timber Group
PaintWell
SageHome
Sentry Doors
Verso Wealth Management
Whyte Bikes
National Timber Group is a leading, independent, added-value timber distribution and processing group operating from more than 70 sites across the UK and generating >£350m in annual revenue. The Group serves a diverse and varied customer base including joiners, regional housebuilders, commercial companies, and infrastructure projects. As a specialist supplier of timber, joinery, and engineered wood products, with substantial warehousing, processing, and distribution capabilities, NTG is able to provide a broad range of high quality products on short lead times, supported by comprehensive timber knowledge and expertise.
www.nationaltimbergroup.com
SV Timber is an independent timber merchant supplying an extensive range of timber materials to a broad range of trade and commercial customers, including joiners and manufacturers, from three branches across the Midlands. SV Timber has a strong reputation for outstanding service and quality, recently, supplying the timber for the Commonwealth Games in Birmingham.
www.svtimber.co.uk
View the pdf version: Cairngorm Capital Release 20.09.2022 pdf
