Leading UK timber importer Premier Forest Products has announced its latest acquisition with the purchase of Decorpanel, a highly successful, 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.
“This acquisition is great news for our customers who will benefit from our shared expertise, and greater product range.
“We start 2023 full of ambitious growth plans and the purchase of Decorpanel stands us in good stead to reach our targets for the year.”
Ian Ling said: “This is great news for Decorpanel customers who will be able to access Premier’s broad portfolio of timber products. Their well-established infrastructure and network will also give us access to nationwide delivery services.
“We are looking forward to working closely with the team from Premier and are excited to see what the future holds for the business.”
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.
