Premium Timber Products set for growth with sale to Meyer Timber Group

Premium Timber Products Limited, which operates out of West Yorkshire, has been sold to Meyer Timber Group Ltd.

Premium, which was acquired in a management buy-out led by Clive Gardner in 1988, is a supplier of joinery products to the DIY retail sector and is based in two locations, one in Dewsbury, West Yorkshire, and the other in Weare, Somerset.

The company has an annual turnover of approximately £30m and currently employs 60 people.

Meyer Timber Group is an operator in the wood based products sector, and is currently based in seven locations across the country including Knottingley, with revenues in the region of £150m.

Baker Tilly Corporate Finance, which advised on this sale, was retained by the shareholders of Premium Timber to identify an appropriate buyer for the business, and the deal with Meyer was concluded following a thorough market review.

After the deal was complete, Cliff Westley, Premium Timber’s managing director, and commercial director David Speck will remain with the business. The company will continue to focus on continuing to provide a high quality of service to its existing customers.

Clodagh Muggeridge, corporate finance associate director for Baker Tilly, said: “We have seen an increase in buyers for high quality businesses over the last twelve months, having acted for Advanced Insulation on their acquisition of Covertherm and the recent successful sale of Framptons Distribution to Gregory’s and Trowbridge-based Deltaform to The Waddington Group.

“We were delighted to work with Premium Timber’s shareholders on such an important deal for the company and for them personally. The business is well-respected within the industry, and so we knew it was crucial to for us to find a buyer that shared similar values and would invest in the company going forward. I am confident that we have done exactly that.”

Clive Gardner, chief executive of Premium Timber, added: “I believe that in Meyer Timber we have found an excellent buyer who will help to steer the business into new areas of growth and expansion in the future. Baker Tilly’s sound understanding of the market and commercial knowledge helped to secure a deal that worked for both the company and its shareholders.”

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