London and Edinburgh, 4 January 2023
Cairngorm Capital Partners LLP (Cairngorm Capital) is pleased to announce that its portfolio company, National Timber Group (NTG), has acquired NORclad Limited (NORclad).
Headquartered in North Somerset, NORclad is a specialist manufacturer and supplier of bespoke fire-rated timber cladding, facades and other timber products used by commercial and residential customers nationally. With over 40 years of experience, the company prides itself on the sustainability of its products and the expert technical support that it provides to its customers.
As the UK’s leading, independent supplier of specialist timber products, this acquisition aligns perfectly with NTG’s strategy to increase its knowledge, range, and manufacturing capacity in bespoke fire-rated timber cladding. Customers of NORclad will benefit from access to the broader range of products and services available to them from NTG.
NORclad’s shareholders will remain in the business, working closely with Patrick Guest, Managing Director of NTG England, to develop NTG’s fire-rated timber cladding category and realise the opportunities presented by this partnership.
Alistair Brown, Managing Director of NORclad, said: “As the founder of the company I am very proud of the NORclad team and what we have achieved. When we knew the time was right to move the business on by joining forces with a larger organisation our aim was to find a suitable partner that shared our passion and goals. With National Timber Group, we have found the right people with the same values as us – a continual focus on the customer and the drive to constantly improve. I look forward to the business continuing to grow and develop.”
Patrick Guest, National Timber Group Managing Director for England, added: “As a specialist, added-value timber manufacturer and distributer, we are absolutely delighted to welcome NORclad to NTG. They will extend our capabilities and offering, and are a great example of the type of business we want to partner with. They have an outstanding reputation in our sector and work hard to deliver great customer service.”
NTG was advised on this transaction by Addleshaw Goddard (legal). The shareholders of NORclad were advised by Haines Watts (corporate finance) and Meade King (legal).
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Notes for editors
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in privately-held, strongly-performing, mid-market growth companies with long-term growth potential, operating in manufacturing, distribution and services industries. The firm’s goal is to build and realise value through growth and performance improvements. Cairngorm Capital’s unique mix of sectoral expertise and investment skill enables it to be actively involved in the strategy and operational focus of portfolio companies, partnering with management teams to grow revenue, enhance margins, improve cash flow or consolidate industry leadership positions.
Cairngorm Capital’s current portfolio includes majority owned stakes in:
Independent Builders Merchants Group
MRO+ Solutions Group
National Timber Group
Verso Wealth Management
National Timber Group is a leading, independent, added-value timber distribution and processing group operating from over 70 sites across the UK and generating annual revenue in excess of £350m. The Group serves a diverse customer base including joiners, regional housebuilders, commercial companies, and infrastructure projects. As a specialist supplier of timber, joinery, and engineered wood products, with substantial warehousing, processing, and distribution capabilities, NTG is able to provide a broad range of high quality products on short lead times, supported by comprehensive timber knowledge and expertise.
NORclad is a leading provider of bespoke, fire-rated timber cladding solutions to commercial and residential customers nationally. Their experienced team work closely with clients and contractors to ensure the right product is specified and supplied for every project. With timber ranging from Canadian Western Red Cedar to home-grown Larch, NORclad provides its customers with the technical information to make informed decisions, whether the question is around species, fire retardants, or timber treatment.
View the pdf version: Cairngorm Capital Release 04.01.2023 pdf