|  

Thornbridge Sawmills taken over by Cairngorm Capital

20.12.2017 − 

British Cairngorm Capital Partners acquired a majority share in Scottish Thornbridge Sawmills on 7 November. The buyer is the Cairngorm Capital II investment fund established in April with capital of 107.5m £. Cairngorm Capital has not disclosed any further details relating to the takeover or the purchase price. Bruce Muirhead, who still holds a minority share in the company, will continue to run Thornbridge Sawmills as managing director. Jim Faulds and John Declerck are being appointed as chairman and non-executive director of the board of directors respectively.

Thornbridge Sawmills currently operates a central warehouse with cutting facilities at its headquarters in Grangemouth along with eight outlets in Scotland. The sales network is to be extended to cover the other countries of the United Kingdom in the medium term. Plans have also been made to invest in plant, machinery, IT, and trailers.

Tags of this news:

previous − Stora Enso agrees new line of credit for 600m €

US residential construction recovers again in October  − next