PE-backed timber group swoops for Commonwealth Games supplier

East Midlands timber merchant SV Timber has been acquired by National Timber Group (NTG), a Sheffield-based portfolio company of Cairngorm Capital Partners LLP.

The news comes as the 50-strong firm prepares to relocate to new, larger premises in Nottingham.

SV Timber was established in 2004 and operates sites in Ilkeston, Somercotes and South Wigston.

The company supplies timber materials to trade and commercial customers and recently supplied the Commonwealth Games in Birmingham.

It notched up revenues of £17m in 2021.

The acquisition fills a geographic gap in PE-backed NTG’s branch network, further extending the company’s footprint in the Midlands.

SV’s shareholders Edward Holder and Richard Rowley will continue in leadership roles with the combined group.

Rob Barclay, 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.”

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 the transaction by Addleshaw Goddard, BDO and Marsh, while SV’s shareholders were advised by Cooper Parry and Knights.