Womble Bond Dickinson (WBD) has advised European private equity investor Nimbus on its investment into Hawthorn Timber Limited (Hawthorn), backing the management buy-out (MBO) of the hull-based timber processor and distributor.
Hawthorn is a leading provider of high-quality soft wood based products and sheet materials, operating from five sites in the UK and employing around 120 people. Since its creation in 1953, the business has grown from strength to strength through product innovation, diversification, and exceptional customer service.
Nimbus are very experienced investors in manufacturing with a strong track record in supporting management teams to build strong, market leading businesses. The MBO represents Nimbus' fourth investment in the UK manufacturing sector following the acquisitions of Halo Foods, Paralloy and Customade Group.
Shawbrook Bank provided both acquisition and working capital finance to support the transaction.
The WBD team advising Nimbus was led by corporate partner Simon Pilling along with legal director James Cook and associate David Ridley. Real Estate support came from managing associate Nicola Guss with partner John Connor and solicitor Jake Unsworth acting on the banking work.
Simon Pilling commented:
"Nimbus has a passion for supporting businesses in the manufacturing sector, unlocking key resources and knowledge to drive innovation and boost growth. It has been a pleasure working with the Nimbus team on this exciting investment in Hawthorn, which bolsters its portfolio in the UK. As always it's fantastic to support a Leeds based private equity firm investing in another great Yorkshire business."
David Keenan who led the deal for Nimbus added:
"We're very grateful to the whole WBD team for their excellent legal and commercial advice on this deal. Being able to rely on a local team of Yorkshire-based lawyers, with strong transactional private equity experience and in depth strength in their team has been key for us."
Ranking in the UK's top 20 law firms, WBD provides legal expertise in its key sectors from across seven offices in the UK and 19 offices in the US. The firm has a large corporate practice in the UK advising national and international clients on a broad range of corporate transactions, particularly M&A, IPOs, MBOs, joint ventures, private equity investments as well as growth and development capital fundraisings.