Forward Corporate Finance has revealed its role on the acquisition of Essex Timber & Plywood by Chandler Material Supplies.
A third-generation family-owned builders’ merchant, Chandler operates out of a three-acre site in Chelmsford and has been in business since the 1950s.
The acquisition of Essex Timber & Plywood based in Eastwood provides it with a second site and bolsters its team, as well as brings timber products including panels, softwoods, hardwoods and fencing materials to the group.
The acquisition enables Raife Clarke – former majority shareholder of Essex Timber & Plywood – to start winding down towards retirement, while providing the team at Essex Timber & Plywood with a new opportunity as part of the wider Chandler family.
Both businesses will continue to operate from the same locations.
Ben Chandler, finance director of Chandler Material Supplies, said: “The acquisition of Essex Timber & Plywood made sense for both businesses, helping Raife with his retirement and providing our group with a second location and a timber specialism to add to our successful builders’ merchant.”
Rob Dukelow-Smith of Forward Corporate Finance advised Ben Chandler, taking the concept of the acquisition from initial conversation, through to completion.
Chandler added: “Rob provided excellent support to me throughout the acquisition process. From the outset, Rob gave clarity to us and the vendors and was always on hand to provide solutions to challenges we faced as the deal unfolded.
“Having Rob’s deal expertise in our corner to calmly navigate the inevitable hurdles and keep the deal on track, was invaluable to keep the project moving towards its successful conclusion.”
Dukelow-Smith said: “I thoroughly enjoyed working with Ben, an extremely driven individual who was laser focussed from the outset to deliver the deal. I’m certain the combined business will flourish under Ben’s and the Chandler board’s guidance.”
Chandler Material Supplies was also provided specialist legal advice on the transaction by Partner David Wisbey at Birkett Long LLP.
Original source: Forward Corporate Finance outlines role on builders’ merchant deal | Insider Media
