Dealmaker Award Winners
PREMIER NAMED CORPORATE AQCUIRER OF THE YEAR AT INSIDER WALES DEALMAKER AWARDS
PREMIER Forest Group was last night (Thursday, September 17, 2015) named Corporate Acquirer of the Year at the Insider Wales Dealmaker Awards.
The award recognised two major acquisitions in the past 12 months which will see the company achieve a turnover of almost £110 million per annum.
- In November 2014 Premier Forest Products (a wholly owned subsidiary of Premier Forest Group Ltd) acquired the Croespenmaen sawmilling division from the Border Group.
- In May 2015 Premier acquired Kernow Timber Ltd, trading as Duchy Timber. Originally part of the Duchy of Cornwall estate, the acquisition provided Premier with a state of the art log processing line, treatment plant, kilning, machining and production facilities making wooden gates, fence panels and garden furniture. This deal was also named Insider’s Deal of the Month in June 2015. Both deals were supported by an HSBC backed acquisition loan.
In addition to creating additional production capacity, the purchase of Duchy Timber provided Premier with the opportunity to market the brand’s strength on a UK wide basis, utilising the Group’s national sales and operational infrastructure. Sales grew at both sites by more than 30% post acquisition.
Premier Forest Group has made a total of seven acquisitions since 2011,
targeting the acquisition of either companies in distress and requiring an immediate fix, or companies owned by shareholders looking for an exit strategy but whose main driver is that the company and its staff are handed to a respected, resourced and sympathetic acquirer.
It has also sought to identify deals that help to immunise it against the effects of high volume, low margin commodity sales.
The companies acquired have enabled the Premier Forest Group to vertically integrate its activities without conflicting with core customers, adding value, range, expertise and geographic expansion.
Since the Group began its acquisition strategy in 2011, turnover has grown from £53m to £92m the year ending April 2015.
With a mix of organic growth and the success of the past 12 months deals, turnover for the current year is forecast to grow to circa £110m.
Premier Forest Group director Terry Edgell said: “Obviously, we are delighted to win such a prestigious award.
“This award is recognition of all the hard work that has gone into driving the growth of the Group.
“This new and expanded Group should continue to go from strength and strength, and we will continue to seek opportunities for acquisition to meet our strategy for further growth.”
Established in 1993 by directors Dilwyn Howells, Nigel Williams and Terry Edgell, Premier Forest Group is one of the UK’s leading independent importers, manufacturers and distributors of timber and panel products. With its head office in Newport South Wales, the company has 14 sites covering the UK and Republic of Ireland.