Premier Forest Products, a leader in the UK’s timber and timber products industry, has announced another acquisition with the purchase of North-East Sheets & Panels Ltd. (NESP).
Established in 1998, North-East Sheets & Panels is a specialist manufacturer and supplier of made-to-measure doors, panels, cabinets and worktops to trade customers and retailers in the fitted kitchen, bathroom and bedroom sector. The business is based in County Durham, just a short distance away from Decorpanel, Premier Forest’s northern arm.
North-East Sheets & Panels’ capabilities in CNC machining and joinery complement Decorpanel’s specialised panel processing, and Premier Forest can further expand into the kitchen, bedroom and bathroom sector, in residential, commercial and public sector markets.
Anthony Hopps, Managing Director of Decorpanel, will be expanding his role to cover NESP as Division Director, driving the business forward within the Premier Forest framework. Richard and Lisa Williams, joint owners and directors of North-East Sheets & Panels, have taken the decision to step down from their current positions to begin their well-deserved retirement.
Richard said: “We are pleased to announce the acquisition of North-East Sheets & Panels by Premier Forest Products, marking a new chapter in the company’s story. Our 21 dedicated staff will remain in their roles, providing Premier Forest with the benefit of their considerable expertise and experience that has allowed us to grow into the business it is today.
“Whilst Lisa and I are sad to leave North-East Sheets & Panels, it is an exciting time in our lives as we embark on our retirement.”
Lisa said: “Becoming part of Premier Forest is a hugely positive step for the company. With their financial backing and support, the business will be able to grow to the next level and I’m confident that it will flourish as part of a larger group.”
Terry Edgell, Co-founder and CEO of Premier Forest Products said: “This acquisition is the perfect fit for Premier Forest Products, as the synergies between the business and Decorpanel provide exciting opportunities for growth in the north-east and nationwide. North-East Sheets & Panels’ skills and expertise fit perfectly with our strategic goal of expanding value-add product categories, whilst the business will thrive by expanding its manufacturing capacity via Decorpanel and continuing to produce quality, made-to-measure doors, panels, cabinets and worktops.
“Acquisitions are a key part of Premier Forest’s strategic growth plan and we are continually seeking new opportunities to welcome businesses like NESP to the Premier Forest family.”
The deal was structured and completed with the support of Acuity Law providing legal counsel, Gambit Corporate Finance who supported the Premier Forest team throughout the deal process, and Kilsby Williams accountants, who conducted financial due diligence.