MANCHESTER, U.K. - March 5, 2021 - Benchmark International is pleased to announce the transaction between Stoke-on-Trent based Hymor Timber (Hymor) and National Timber Group (NTG).
Established in 1990, Hymor is an independent timber merchant supplying ethically sourced hardwood and softwood to a range of trade and commercial customers, including joiners and manufacturers.
Hymor employs 28 people and in 2020 achieved revenues of £4.5m. Hymor's acquisition was initiated by the owners' succession planning.
National Timber Group is the largest independent added-value timber distribution and processing group in the UK, serving a diverse customer base including joiners, housebuilders, and contractors. Created through the acquisitions of market-leading brands Thornbridge, North Yorkshire Timber, Rembrand and Arnold Laver, the group now has a combined turnover of over £250 million, over 1,300 employees, and 64 processing and distribution sites.
National Timber Group is a portfolio company of Cairngorm Capital Partners, a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in strongly performing, private mid-market growth companies in manufacturing, distribution and services industries.
A highly complementary and strategically beneficial transaction, it enables National Timber Group to expand into the Midlands and North West. Hymor's product offering also complements those at NTG's specialist hardwood depot in Hull that serves Yorkshire and the Humber.
Following the transaction, Hymor's founders/executives, Graham Morris, Roger Malkin and Chris Hyde, will work with Rob Barclay and Patrick Guest, NTG's Chief Executive and Managing Director for England, to achieve its successful integration into the group.
Commenting on working with Benchmark International, Hymor's founders said: "We are so glad we chose Benchmark to help us sell our company. They far exceeded our expectations. They found us the perfect buyer and stayed with us every step of the way. James Sloane was exceptional. Excellent at negotiation, project management and tackling all the difficult negotiations. We had a very tight deadline and we would not have achieved it without him."
Rob Barclay, Group Chief Executive of National Timber Group, added: "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."
Hymor was advised on the transaction by Benchmark International (corporate) and Knights plc (legal).
National Timber Group and Cairngorm Capital were advised on this transaction by Johnston Carmichael (financial and tax) and Addleshaw Goddard (legal).
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