Timber merchant Norclad has been acquired by the Cairngorm Capital-backed National Timber Group (NTG).
The 40-year-old firm, which is headquartered in Barrow Gurney in North Somerset contributes cladding, facades and other timber to residential and commercial customers across the UK, with The Wave surf centre in Bristol among its previous projects.
NTG said Norclad’s shareholders would remain in the business, describing its new purchase as the UK’s leading, independent supplier of specialist timber products.
The group added the move aligned “perfectly” with its strategy to develop its range and manufacturing of fire-rated timber cladding.
The value of the deal has not been disclosed.
Norclad’s founder and managing director Alistair Brown, said he was “very proud” of what the company and its staff had achieved.
Mr Brown added: “When we knew the time was right to move the business on by joining forces with a larger organisation our aim was to find a suitable partner that shared our passion and goals.
“With National Timber Group, we have found the right people with the same values as us – a continual focus on the customer and the drive to constantly improve. I look forward to the business continuing to grow and develop.”
Patrick Guest, NTG’s managing director for England, said: “As a specialist, added-value timber manufacturer and distributor, we are absolutely delighted to welcome NORclad to NTG.
“They will extend our capabilities and offering, and are a great example of the type of business we want to partner with. They have an outstanding reputation in our sector and work hard to deliver great customer service.”
NTG was advised on this deal by law firm Addleshaw Goddard. The shareholders of Norclad were advised by Haines Watts’ corporate finance team and Meade King legal practice.
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