Timber merchant Rembrand has merged with Thornbridge Sawmills to create the leading independent timber distribution company in Scotland and the North of England.
The move follows the retirement of George Low, Rembrand Timber’s founder and managing director and is supported by further investment from Cairgorm Capital Partners, a specialist private investment firm that provides equity capital and management expertise to ambitious UK companies.
Together with NYTimber, which merged with Thornbridge in February 2018, the newly extended business will be the leading independent timber distribution company in Scotland and the North of England, with 35 branches, revenues exceeding £100 million and over 600 employees.
The enlarged group will now be run by incoming group chief executive, Rob Barclay, who joins from SIG plc, where he was group managing director for UK and Ireland, following Thornbridge managing director Bruce Muirhead’s decision to continue his involvement in a non-executive capacity.
Established in 1982 and headquartered in Dundee, Rembrand is an importer, manufacturer and distributor of timber. It has two manufacturing sites and 20 branches across Scotland, serving a broad range of customers in the construction industry. In addition to an extensive range of timber, sheet and joinery products, Rembrand offers a broad selection of roofing, insulation and other building materials via its subsidiary companies, Scotia Roofing, Glow Insulation & Site Supplies and Rembrand Builders Merchants. In 2017 it achieved revenues approaching £50 million and employed 288 people.
Low said: “I have long been an admirer of Thornbridge and all that it has achieved. We have much in common in terms of our heritage, our commitment to outstanding product quality and our belief in the highest standards of customer service. This, together with our highly complementary product ranges and distribution networks, makes the merger a good fit and will allow Rembrand to continue to thrive to the benefit of our customers and employees. I know I will be leaving the business in very capable hands and look forward to seeing it prosper.”
Barclay, Group Chief Executive of Thornbridge, said, “I am delighted to be joining Thornbridge and to be able to welcome Rembrand into the group. It is a pleasure to have such a well-respected company, with a strong market presence join the group. There is a clear fit between all the businesses and the combination creates many opportunities. The group is at a really exciting point in its development, with the ability to capitalise on numerous options for growth. Although we have ambitious goals to fulfil, with strong investor support, our exceptional products, first-rate employees and a well-deserved reputation for superior service, these are very achievable. I look forward to leading the next phase of development.”
Capital Cairngorm Partners bought Parker Building Supplies earlier this year.