PE-backed timber group swoops for Commonwealth Games supplier
Sheffield’s National Timber Group, backed by Cairngorm Capital, has acquired a company based in Ilkeston which recently supplied timber to the Commonwealth Games.
Established in 2004, SV Timber, which also has branches in Alfreton and Leicester, is an independent timber merchant supplying materials to a range of trade and commercial customers, including joiners and manufacturers.
It employs 50 people and in 2021 achieved revenues of £17m.
National Timber Group said SV Timber fills a geographic gap in its 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.”
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).
