Newport-based Premier Forest Products has further expanded with the acquisition of Monmouthshire Timber Supplies.
Mon Timber, a supplier of timber products, joinery and roof trusses, operates from three sites in South Wales.
The acquisition of Mon Timber further extends Premier Forest’s product portfolio and service capabilities. The value of the deal has not been disclosed.
Terry Edgell, chief executive and co-founder of Newport headquartered Premier Forest, said: “Acquisitions sit at the heart of our five-year strategy for growth, but they have to be the right choice for us. So, when I received a positive reception to our approach to Mon Timber’s shareholders, I was delighted. This purchase constitutes an excellent fit for Premier, dovetailing neatly into our ongoing plans for diversification and vertical integration, with each business being able to benefit from the strengths of the other.
“Mon Timber will further extend Premier’s product portfolio and service capabilities, whilst Premier is able to bring clear benefits of scale, both financially and through its substantial distribution and purchasing network.
“This is the most exciting phase in the company’s development since its launch in 1993. Success breeds success, and we have a clear vision of where we want Premier to go. Bringing the Mon Timber brand into the Premier group is another significant step towards realising that ambition.”
Cardiff-based corporate advisory frim Gambit acted as lead advisor to Premier Forest Products and was responsible for initiating, negotiating and structuring the transaction. The Gambit deal team was led by Geraint Rowe (partner), Sam Forman (director) and Michael Dunn (executive).
Mr Forman said: “The acquisition of Mon Timber is an excellent strategic fit for Premier Forest and will provide significant future benefits and opportunities for both companies. It was a pleasure to advise Premier Forest on another transaction.”
Acuity Law provided legal advice to Premier Forest through Rachelle Sellek and Tom Saunderson.
