Rickard Luckin recently advised on the sale of Essex Timber & Plywood Ltd to Chandler Material Supplies Limited, based in Chelmsford.
Founded in 2012 by Raife Clarke, Southend-based Essex Timber & Plywood is a well-established timber and building merchants, supplying both the trade and DIY sectors.
The Rickard Luckin team, led by Mark Brooks (Corporate Finance), acted as lead adviser on the transaction.
Talking about the deal, Mark Brooks, Head of Corporate Finance and Director at Rickard Luckin said: “It was a pleasure to work with the owners of Essex Timber & Plywood to help them achieve their exit objectives. Rickard Luckin was introduced to the business by the existing accountants, and we were pleased to offer support to both parties to achieve a positive outcome.”
Raife Clarke, majority shareholder of Essex Timber & Plywood Limited, added: “During the process of identifying a buyer and negotiating the transaction, Mark and his team at Rickard Luckin kept us advised of the progress, helping us to navigate the sale process with confidence”.
Essex Timber & Plywood Ltd has been acquired by Chandler Material Supplies as part of the strategic growth strategy and the plan is to invest in the site to expand the offering currently provided. Ben Chandler, Director of Chandler Material Supplies, stated: “We are very excited as a family-run business to take on Essex Timber & Plywood and offer its existing loyal customer base an enhanced product range, whilst maintaining the same high level of customer service delivered by Raife and his team”.
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