Gambit Corporate Finance has supported Premier Forest Products on its acquisition of Bitus UK from Swedish company, Bergs Timber.
Bitus UK – formerly known in the trade as Continental Wood Products (CWP) – is an importer and bulk distributor of timber, panels and garden products serving industrial manufacturing, furniture-making, construction and merchanting sectors.
Premier Forest Products will take on Bitus UK’s warehousing and distribution activities at the Baltic distribution port-side facility based in Creeksea, Essex. Premier Forest Products has also taken on the Bitus UK sales office in Cirencester, where all members of staff have been retained.
Terry Edgell, Co-founder and CEO of Premier Forest Products said:
“We’re very happy to welcome Bitus UK to the Premier Forest group. The strategic dockside location of the site will enable us to improve operational efficiency by providing a more direct route to our customer base. We plan to expand the range of products distributed from Creeksea to include our whole portfolio, which includes the full range of softwoods, hardwoods and sheet materials, in order to create a one-stop-timber-shop for our customers.”
“Acquisitions are a key part of Premier Forest’s strategic growth plan, and we are continually seeking new opportunities to welcome businesses like Bitus UK to our Group.”
It is the second transaction Gambit has advised Premier Forest Products on in 2024, and the seventh transaction in the past three years. Gambit’s team was led by Geraint Rowe (Partner), Sam Forman (Partner) and Harrie Thorrington (Manager).
Sam Forman, Partner at Gambit commented:
“The acquisition of Bitus UK offers a significant opportunity for Premier Forest to significantly expand distribution, increase its value-add product range and access a loyal customer base with potential cross-sell opportunities.”
“M&A will continue to factor in Premier Forest’s future growth and augment its organic strategic initiatives as one of the UK’s leading timber companies.”
