Cairngorm Capital Partners LLP (Cairngorm Capital) have announced that its portfolio company, National Timber Group (NTG), has acquired Hymor Timber Limited (Hymor).
Established in 1990, Hymor is an independent timber merchant supplying ethically sourced hardwood and softwood to a broad range of trade and commercial customers, including joiners and manufacturers across Staffordshire and the surrounding area.
The company has a strength in hardwoods and modified timber, which combined with its extensive processing capability and expertise in meeting bespoke client requirements, has resulted in a reputation for outstanding service and quality.
Located in Stoke-on-Trent, Hymor employs 28 people and in 2020, achieved revenues of £4.5 million. Hymor’s acquisition was initiated by the owners’ succession planning.
Cairngorm Capital’s investment was led by Neil McGill, Managing Director and Josh Chilton, Investment Manager. Neil explained: “As investors, we are actively engaged in the strategy and operational development of our portfolio companies. As a result, we take great care to identify complementary acquisitions. Hymor is a highly successful timber merchant with a strong local brand and impressive performance, which pairs well with NTG. We are delighted with this addition to NTG.”
Rob Barclay, Group Chief Executive of National Timber Group said: “We are delighted to welcome Hymor Timber to the Group – our shared expertise and commitment to our customers makes this an obvious and complementary partnership. Together, we will increase our offering in the important hardwood timber category and extend our range of services in the Midlands and the North West, improving our customers’ experience.”
National Timber Group and Cairngorm Capital were advised on this transaction by Johnston Carmichael (financial and tax) and Addleshaw Goddard (legal). Hymor was advised by Benchmark International (corporate) and Knights plc (legal).