GRANGEMOUTH-based timber processing specialist Thornbridge has merged with timber merchant North Yorkshire Timber (NYTimber).
The move has been supported by investment from Cairngorm Capital Partners LLP, with the transaction described as being the “next step” in the strategy to consolidate the UK timber distribution sector.
NYTimber, which is headquartered in Northallerton, has a range of timber, sheet and joinery products as well as a specialist roof solutions division. Last year, NYTimber had revenues of over £18 million and employed over 200 staff.
NYTimber’s senior management team will continue to lead the NYTimber business and Nick Kershaw, NYTimber MD, will join the Group Board. David Cook, founder of NYTimber, is leaving the business.
Thornbridge and NYTimber will continue to be based in Grangemouth and Northallerton respectively and both businesses will continue to trade under their existing brands.
Thornbridge MD Bruce Muirhead said, “We are delighted to see such a well-respected company with significant market presence joining the group, bringing together the leading timber merchants in Scotland and the north east of England. There is a clear fit between the two businesses and the combination creates exciting opportunities. We have much in common in terms of our heritage and commitment to outstanding product quality and customer service. Our product ranges are highly complementary. Together, we will be well equipped to pursue new opportunities for innovation and growth, to the benefit of our customers and employees. “
Nick Kershaw, MD of NYTimber added, “We welcome the investment from Cairngorm Capital – this deal will support the growth ambition of NYTimber’s management team. Combining with Thornbridge is the perfect partnership for two businesses which share a commitment to innovation and the highest standards of customer service. There are great opportunities across the sector and the alignment of our goals, values and vision, offers significant strategic benefits for both organisations.”