Two companies providing market-leading timber products have merged to form a national supplier of high-quality goods, following advice from international law firm Womble Bond Dickinson (WBD).
The firm has advised on the formation of Summit Timber Group, bringing together Hawthorn Timber, a Hull-based supplier of high-quality machined and treated softwood, panel products, and cladding, and Cheshire Mouldings, a St Helens-based manufacturer and distributor of mouldings, stair parts, panelling, decking and joinery timbers, with the two combining to become a market-leader in timber products.
Summit Timber will look to continue growing and supporting its trajectory through organic investment in capacity and processes as well as strategic and focused acquisitions of businesses which align with the core values of the group.
The new group will be led under the chairmanship of Tony Hackney. Day-to-day business of both Cheshire Mouldings and Hawthorn Timber will continue to be overseen by the existing management structure of each company.
A WBD team led by partner James Cook advised on the combination, with additional support from managing associate Catherine Willis, associate Hannah Severgnini, and trainee solicitor Jai Thakrar on corporate matters, and partner Claire Kistner, managing associate Jake Unsworth, and Harshil Patel on banking requirements.
James said:
"Summit Timber marks a landmark moment in the history of two leading players in the sector and by bringing these two companies together under one umbrella, it will unlock new opportunities for both while consolidating their strong position within the market.
"It's been a pleasure bringing a full service offering to the table for this deal and utilising our expertise across corporate and banking matters and knowledge of the sector and wider market to this deal to ensure Summit Timber was taking the biggest and strongest step forward as a new organisation it could through efficient, safeguarding legal practices."
Other advisors on the transaction included MCF Corporate Finance, Cortus Advisory, BDO, KPMG, Addleshaw Goddard and Squire Patton Boggs.
This article is for general information only and reflects the position at the date of publication. It does not constitute legal advice.
