Leading UK timber importer Premier Forest Products has announced its latest acquisition with the purchase of Decorpanel, a specialised panel processing business.
Based in Tyne and Wear, Decorpanel was established in 1998 by owners Ian Ling and Anthony Hopps. The business operates on a four-acre site comprising 76,000ft² of warehouse and factory space, and employing 63 staff.
Premier plans to invest in new machinery at the site to further improve productivity and capacity. This will meet growing demand and service customers quickly and efficiently, enabling a fast turnaround of orders.
Terry Edgell, Co-founder and CEO of Premier Forest Products, said: “Decorpanel constitutes an excellent fit for Premier. It signifies further geographic expansion for us into the north of England, while simultaneously enhancing our processing and machining capability and capacity to meet growing customer demand.”
Acuity Law provided legal counsel, Gambit Corporate Finance supported the Premier team with the deal process and structure, while Kilsby Williams accountants provided financial due diligence.
