We've advised KFM Holdings on the sale of Timbmet Group.
Founded in 1942, hardwood specialist Timbmet has been acquired by the Hadleigh Timber Group.
Timbmet joins Meyer, Panelco and Premium within the Hadleigh Timber to create a group with a turnover of over £300m.
Hadleigh consider this acquisition to be a strategic step forward to complement its existing operations and is reported to be considering further acquisitions.
The main focus of the combined businesses will be to provide customer service at the highest level.
Chris Rudd, the CEO of the Hadleigh Group will immediately assume management responsibility for Timbmet and its subsidiaries.
In a statement, Mr Rudd said:
“Whilst there will undoubtedly be a period of change I am sure with everyone’s cooperation and enthusiasm, we can continue and strengthen the reputation of Timbmet and the Hadleigh Group as a whole.”