Cairngorm Capital portfolio company, National Timber Group (NTG), has acquired Orchard Timber Products Limited (Orchard Timber) with the help of property consultancy Vail Williams.
Established in 2004, Orchard Timber is a specialist distributor of timber, sheet materials, kitchens, doors, wood flooring, and decking, supplying a range of local housebuilders, contractors, and RMI-focused joiners.
Headquartered in Forfar, Scotland, the company has a second depot in Livingston and a sales office in Aberdeen. Orchard Timber employs 90 people and in 2021, achieved £27m in revenue.
Geoff Fallon, the lead partner at Vail Williams who advised on the property aspects of the deal, said: “We are pleased to help longstanding client, Cairngorm Capital, to grow NTG’s portfolio with the acquisition of Orchard Timber.
“Our team of property experts and building surveyors reacted quickly to provide advice on rental values and the condition of the building within tight timescales, to help inform the acquisition, which will extend NTG’s existing wood flooring product range.”
With shared customer service values, this acquisition fulfils two strategic objectives for NTG. Geographically, it complements NTG’s footprint by extending its presence into West Lothian and up the North East coast of Scotland, filling gaps in the Group’s branch network.
Orchard Timber joins NTG’s Scottish division and will continue to trade under its successful trading name and brand.
Scott McKinlay, Kevin Golder, and Stuart Fraser, Orchard Timber’s owners, will remain in the business, working with Nick Ratcliffe, Managing Director of NTG’s Scottish division, to ensure its smooth integration into the Group and to realise the opportunities that this transaction offers for future growth.
Rob Barclay, Chief Executive of National Timber Group said: “We are delighted to welcome Orchard to the Group. We both share a strong commitment to our customers and a passion for timber products, which makes this an obvious and complementary partnership. Together, we will increase our offering in the timber flooring category and strengthen our position in the Scottish market, improving our customers’ experience.”
Scott McKinlay, Managing Director of Orchard Timber said: “For some time, my fellow shareholders, Stuart Fraser, Kevin Golder, and I have been considering how best to develop Orchard Timber Products further. When the opportunity came about to partner with National Timber Group, we were delighted to find we share the same passion and determination to drive the business forward. After this, the decision to join the Group was an easy one. I look forward with real enthusiasm to this new chapter in Orchard’s history.”
National Timber Group was also advised by Addleshaw Goddard (legal), PwC (financial and tax) and Marsh (insurance). Orchard Timber was advised by Thorntons Law.