Premier Forest Products will acquire Uxbridge-based Ron Lewis Holdings, and also historic trading companies Y Goldberg & Sons and the Clarks Wood Company, which are based in Uxbridge and Bristol respectively.
The purchase of these companies marks further significant growth for Newport-based Premier Forest Products during its 20th year in business, and will provide geographically strategic freehold property at both locations. This follows on from the announcement in June that Premier’s Irish holding company had acquired the entire share capital of Dublin Plywood and Veneers.
Terry Edgell, Director and co-founder of Premier – one of the largest companies in Wales - said: “This acquisition represents a major step in broadening Premier’s product range in timber products and increasing its geographic coverage of the UK. “We see the purchase of Ron Lewis Holdings as a perfect match in terms of its reputation in the sector and opportunities that can be exploited by both parties.
“Premier will gain access to the hardwood and specialist sheet material market, broadening the scope of our supply but also increasing the product offering of the acquired company and helping them to create a competitive platform in a competitive market. “Y Goldberg and Clarks Wood have over 300 years of heritage between them, and we feel privileged to be the new custodians of such historic brands.”
The deal demonstrates quiet optimism for the recovering prospects in the timber industry, and represents the Premier group’s continuing appetite for expansion into related markets. HSBC’s Wales Corporate Banking team, based in Cardiff, provided a significant seven-figure funding package to support Premier in the acquisition.
Senior corporate banking manager Mike Kear, who led the deal, commented: “Premier Forest Products is a growth business that is looking to propel the company, and we are pleased to have supported this latest acquisition.” Keith Beckford, Managing Director of both Y Goldberg and Clarks Wood, said: “This is an exciting and invigorated period for our team and indeed for our customers.
“We will have a greater armoury of product and purchasing strength with which to dramatically grow our organisation. “From Premier’s perspective, they have acquired significant hardwood and specialist panel product experience, which will enhance their offering to their nationwide customer base.”
Terry Edgell adds: “We work in an extremely competitive market, and I am confident that our emerging integrated group will enhance our opportunities for organic growth.”