Ashfords advises on the sale of Premium Timber Products to Meyer Timber Group

The Ashfords Corporate Team advised on the sale of the share capital of Premium Timber Products Limited to Meyer Timber Group Limited with business advisers, Baker Tilly.

Premium, who have an annual turnover of circa £30m, are one of the UK's leading suppliers of joinery products to the DIY sector. The company operates from two sites, one in Dewsbury, West Yorkshire, and the other in Weare, Somerset.

Meyer Timber Group, a market leading operator in the wood based product sector, has seven locations across the country, with revenues in the region of £150m.

Managing Director Cliff Westley and Commercial Director David Speck of Premium Timber will both remain with the business.

Andrew Betteridge, Corporate Partner at Ashfords LLP, who led the team advising Premium Timber Products, commented: "We are delighted to have advised Premium Timber's shareholders on the sale to Meyer Timber Group. This is a strategic move for the DIY retail suppliers and we look forward to seeing the company grow and expand in the future."

Clive Gardner, Chief Executive of Premium Timber, commented: "Andrew and his team not only did what we expected by giving us great guidance and advice they also provided a nice human touch to the transaction process, even when things got a little tough. Our thanks go to Andrew, Rory and Ross and the whole team who worked tirelessly to get things done. A great team of professionals."

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