RSM has advised timber processor and distributor Hawthorn Timber Limited on its recent management buy out (MBO). The deal was completed with backing from European private equity investor Nimbus.
Hawthorn Timber Limited, which is based in Hull, is a “leading processor” and distributor of high-quality soft wood-based products and sheet materials.
Founded in 1953, the business operates from five sites and employs around 120 people supplying a broad range of customers with bespoke products.
The MBO team was led by managing director Richard Thompson with support from sales director Richard Iversen and production director James Stone.
Richard Thompson, said: “This transaction represents the start of an exciting new chapter for Hawthorn. Our success to date has been built on our relentless focus on serving our customers and the investment and partnership with Nimbus will allow us to grow whilst sticking to our core values.”
Chris Clegg, head of Nimbus in the UK, added: “We are delighted to support such a talented management team in a dynamic sector. Richard and his team have delivered incredible growth in recent years and we are excited to be part of the ambitious future plans for the business.”