Sheffield-based timber merchant Arnold Laver & Co has been acquired by Cairngorm Capital Partners in a deal which creates the largest independent timber business in the UK with combined revenues of almost £250 million.
The new collective, which also incorporates Cairngorm’s Capital other timber brands, will be known collectively The National Timber Group.
Established in 1920, Arnold Laver is a £130 million turnover family-run business which imports, distributes and manufactures a wide range of timber products to public and private sector construction as well as housebuilders and commercial companies.
Its customers include blue chip construction companies and it is a favoured timber supplier for major infrastructure projects that include the 2012 Olympics, Hinkley Point Power Station, HS2 and the Thames Tideway.
The National Timber Group was formed with the aim of consolidating the highly fragmented specialist UK timber merchant market.
In less than 12 months Cairngorm Capital has established a market leading timber business, with a national presence extending from the north of Scotland to London and the South West.
The new enlarged Group, which consists of 52 sites and over 1,300 employees, is led by Rob Barclay, Group Chief Executive, who joined the Group in June.
Mr Barclay said: “We are delighted to partner with Arnold Laver and welcome them to the Group.
“The merger is highly complementary – together, we are able extend our presence nationwide, pursue further growth and are well positioned to capitalise on the market leading position we have established.”
This transaction was led by Neil McGill, Investment Director at Cairngorm Capital, who added, “The UK timber market is still highly fragmented and offers many opportunities for well organised, high quality businesses such as The National Timber Group.
“We believe we now have a great platform for further growth under the leadership of an exceptional management team”