Hull based Hawthorn Timber Limited is a leading processor and distributor of high-quality soft wood- based products and sheet materials. Founded in 1953, Hawthorn has grown into a successful business through product innovation, diversification, and exceptional customer service. The business operates from five sites and employs around 120 people supplying a broad range of customers with bespoke product.
The MBO team was led by managing director Richard Thompson with sales director Richard Iverson and production director James Stone. Managing Director, 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 grow whilst sticking to our core values”
Nimbus are very experienced investors in manufacturing with a strong track record in supporting management teams to build strong, market leading businesses. This transaction represents Nimbus’s fourth investment in the UK manufacturing sector following the acquisitions of Halo Foods, Paralloy and Customade Group.
Chris Clegg, Head of Nimbus in the UK, commented “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”.
Shawbrook Bank provided both acquisition and working capital finance to support the transaction advised by Shoosmiths in Leeds.
David Keenan led the deal for Nimbus who were advised by the Leeds teams of Womble Bond Dickinson, Sentio Insight (Tom Hayes) and BDO tax advisory. RSM and Rollits advised the sellers.