New Timbmet owner hints at further acquisitions1 February 2017
New Timbmet owner The Hadleigh Timber Group has hinted at further timber sector acquisitions in the near future.
Hadleigh chairman Martyn Meade has told TTJ the company has already been in discussions with other sector players with a view to making further acquisitions. A full interview with Mr Meade will feature in the next issue of TTJ.
The group’s acquisition of Timbmet (ttjonline Jan 23) creates arguably the largest timber focused group – which also includes Meyer Timber, Panelco and Premium Timber – in the UK with a turnover of more than £300m.
Hardwood specialist Timbmet was founded in 1942 and is one of the largest players in the UK hardwood products market. Hadleigh said the acquisition was a strategic step forward to complement its existing operations.
The main focus of the combined businesses, will be to “provide customer service at the highest level”.
Chris Rudd, the CEO of the Hadleigh Group, will immediately assume management responsibility for Timbmet and its subsidiaries.
“Whilst there will undoubtedly be a period of change I am sure with everyone’s co-operation and enthusiasm, we can continue and strengthen the reputation of Timbmet and the Hadleigh Group as a whole,” said Mr Rudd in a statement.
Timbmet won the TTJ Timber Trader of the Year Award 2016.