(1 August 2021, United Kingdom) Templewater is pleased to announce that the firm, through Templewater I, L.P., together with its partner, Rubicon Partners, successfully acquired 100% of the share capital of Consolidated Timber Holdings Group (“CTHG”). CTHG is a leading national timber group with a portfolio of businesses across the UK that has developed a strong presence by providing timber products to its diverse network of wholesale distributors, dealers, local door retailers, timber merchants and direct customers.
Companies in the group include MBM Forest Products, which has a base in Tilbury, and imports and distributes specialist timber products, and Falcon Panel Products, which specialises in wood-based sheet materials, and has several depots across the UK. CTHG's other companies are Compass Forest Products, based in Hull, MBM Speciality Forest Products, Hoffman Thornwood and Triesse.
The group has leading positions in door and fire door cores and is one of the UK's largest independent processors of wood-based panels and manufacturers of veneered and laminated boards.
Templewater-Rubicon's investment will facilitate the ownership-management transition for the former six director-shareholders of CTHG under the guidance of newly appointed group chief executive officer Nick Cullen. Five director-shareholders will remain at CTHG as advisers, providing continuity and assisting with the transition over a two-year period.
Templewater-Rubicon and the management team will closely work together, taking advantage of the market opportunities, the significant potential to grow the group by investing in both the distribution and manufacturing sides of the business, and the increasing appeal of timber products as a sustainable material in the UK residential and commercial construction market.