Tue, 03 Jul 2018 | MERGER
Timber manufacturer Thornbridge Sawmills has merged with Rembrand Timber in Scotland, growing its distribution operations to 35 branches across the North of England and Scotland increasing its revenues to more than £100 million.
The English company previously merged with Northallerton-based NYTimber in February 2018, and was incorporated into private equity firm Cairngorm Capital Partners’ portfolio in November 2017. Thornbridge’s new partnership with its Scottish counterpart was supported by investment from Cairngorm.
Rembrand, which conducts manufacturing, importing and distributing operations across Scotland, achieved revenues of roughly £50 million in 2017 through its 20 branches in the region, and staff of 288 people.
The merge between the two companies has expanded its employee base to north of 600 staff members.
The managing director and founder of Rembrand George Low’s retirement was the inspiration behind the merge, but has said he will continue to work for a short while longer to ensure the smooth and efficient transition of the business.
Rob Barclay, previously the group managing director of construction suppliers SIG, joined Thornbridge as the chief executive.
He said: “The group is at a really exciting point in its development, with the ability to capitalise on numerous options for growth. Although we have ambitious goals to fulfil, with strong investor support, our exceptional products, first-rate employees and a well-deserved reputation for superior service, these are very achievable. I look forward to leading the next phase of development.”
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