Rubicon Partners acquires CTHG

Rubicon Partners (Rubicon) has acquired 100 per cent of the share capital of Consolidated Timber Holdings Group (CTHG). This is the fourth investment made by Rubicon through its Fund V, which had its first close in May 2020.

CTHG is one of the UK’s leading importers, distributors and manufacturers of timber products.

The companies in the group are:
Compass Forest Products – importation and distribution of joinery softwoods and garden products

Falcon Panel Products – importation and distribution of wood based sheet materials

Hoffman Thornwood – cutting, laminating and processing of wood based sheet materials

MBM Forest Products – importation and distribution of structural softwoods and engineered wood products

MBM Speciality Forest Products – importation and distribution of specialist timber products

Triesse – manufacture of veneered products and cutting and processing of wood based sheet materials.
Rubicon has made its investment to facilitate an agreed ownership-management transition for the director-shareholders of CTHG. Rubicon has extensive experience in management transitions of entrepreneur-owned private companies and has appointed Nick Cullen as Group CEO of CTHG.
Four of the five director-shareholders will remain at CTHG, thereby providing continuity and assisting Nick Cullen in managing this transition over a two year period.
Rubicon has acquired CTHG due to the market opportunities, the significant potential to grow the Group by investing in both the distribution and manufacturing sides of the business, and the increasing appeal of timber products as a sustainable material in the UK residential and commercial construction market. The Rubicon and CTHG teams look forward to continuing to work with current suppliers and customers in a seamless manner.
Funds for the investment are provided by Rubicon Partners, its co-investors and PNC.
Rubicon Partners was advised by KPMG (financial and technology), CIL (commercial), PwC (tax), AON (insurance), Proskauer Rose (legal), RSK (Environmental), XPS and ARC (Pensions). Debt facilities were provided by PNC.
The director-shareholders of CTHG were advised by Susan Clark and the corporate team at LCF Law, Buzzacott LLP and Grant Thornton UK LLP.