Premier snaps up sawmilling business
Timber and panel importer Premier Forest Products has acquired the sawmilling division of Croespenmaen-based Border Group.
The sawmilling business comprises GTP Border Forest, which sells solid wood products, and Border Forest Products, which sells production waste to the biomass industry. Both operate from a nine-acre site in South Wales.
Following the acquisition by Premier Forest Products, which is based on Alexandra Dock in Newport, the companies will operate under Premier Forest Sawmilling.
Terry Edgell, director and co-founder of Premier, said: "This is a very exciting acquisition for Premier; one that we believe has the potential to have a big impact on our operations.
"The sawmills current financial performance shows great potential for bringing improved earnings, significantly increasing the volume of material we distribute, improving our environmental credentials and giving us a secure supply source of fencing and pallet wood products, whilst in addition giving control of the quality and product range produced."
Ernie Branfield, chairman of The Border Group, added: "We decided to sell the sawmill arm of the company to focus on our core businesses.
"We are very proud of the company that we have created and would only have considered selling GTP Border Forest and Border Forest Products to a company that shared our core values – which we believe Premier does."
HSBC's Wales corporate banking team in Cardiff provided a seven-figure funding package to support Premier in the acquisition.
Senior corporate banking manager Mike Kear said: "Premier Forest Products is a growing business and deals like this one further propel the company. We are pleased to have supported this latest acquisition."