Newport-based Premier Forest Products (“Premier Forest” or “the Company”) has announced the acquisition of Monmouthshire Timber Supplies Limited (“Mon Timber”).
Mon Timber is a successful and well-respected supplier of timber products, joinery, and roof trusses across the region, operating from three sites between Newport and Cardiff. With a customer base rooted in construction and joinery, the business has developed an excellent reputation for service and expertise, something that aligns well with Premier’s own strategy.
The acquisition of Mon Timber further extends Premier Forest’s product portfolio and service capabilities and the Company is firmly focussed on further rapid organic and inorganic growth to capitalise on the favourable market conditions.
Terry Edgell, CEO and co-founder of 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.”
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).
Sam Forman of Gambit, commented: “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 and the team comprised Rachelle Sellek and Tom Saunderson.