Directors at specialist joinery contractor Wood Newton have led a managemement buyout (MBO) of the company as they seek to capitalise on the rise of eco-housing.
The directors at Derbyshire-based Wood Newton, which has completed a string of top contracts such as projects at the National Gallery and National Tennis Centre, are predicting a growth curve in the coming years fuelled by timber’s high green credentials.
Contracts director Gary Hibbard joined managing director John Green, who specialises in timber and joinery, and design director Mark Marron to buy out former shareholder Martin Pritchard for an undisclosed sum.
Wood Newton manufactures a closed panel timber frame building system, being used in Taylor Wimpey’s Oxley Woods development in Milton Keynes (one of the winning sites in the government’s Design for Manufacture competition), as well supplying doors, windows and cladding/façade systems, plus completing high quality fit-outs.
“Timber housing has received a real boost over the past two years with the government backing such innovative green solutions,” said Mr Hibbard.“This type of development is definitely the way forward for sustainable housing and we intend to remain at the forefront of this trend.”
The company’s contract with Taylor Wimpey at Oxley Woods involves 145 houses and is worth £14m. It is responsible for all works from the foundations to prefabricated structural timber frame, external cladding, internal and external windows and doors, and services.
Little Eaton-based Wood Newtown, started six years ago, has also supplied 140 doors for the National Gallery, including a huge motorised door overlooking Trafalgar Square, plus 124 external sliding doors for the National Tennis Centre.
