Ireland’s largest sawmiller, Glennon Brothers, has acquired the Pontrilas Group, one of the UK’s largest independent processors – in a deal that will add £120 million in turnover and more than 200,000 cubic metres of annual capacity to the sawmilling giant.
Founded in 1947 by the Hickman family, the Pontrilas Group is a timber processing business situated on the Welsh border and with an annual sawn capacity believed to be approximately 200,000 m3.
With a team of over 530 people, the Hereford-based firm is led by an experienced, long-serving management team and boasts the largest timber processing mill in England and Wales.
“We are delighted to welcome the Pontrilas Group into the Glennon Brothers family,” said Glennon Brothers joint managing director Mike Glennon. “This acquisition allows us to continue fulfilling our commitment to our customers of offering a one stop shop solution for sawn softwood across the UK and Ireland.”
“The opportunity to add value to our established supply chain and core business is extremely exciting,” added joint managing director Pat Glennon.
“By adding Pontrilas to our existing business, it further enhances our capability to operate fully from forest to front door.”
Pontrilas chairman Jeremy Hickman said he and the Hickman family were pleased to wish Glennon Brothers and the Pontrilas Group every success in the future, while Jonathan Poynton, Pontrilas’s CEO, said “the team at Pontrilas are delighted to be joining the Glennon Brothers family of companies, and we look forward to exciting times ahead for the enlarged business”.
Hazlewoods provided vendor financial and taxation due diligence on the transaction led by Corporate Finance Partner, James Whittaker. “It’s been a pleasure working with Jonathan and Eric and the wider deal team on this transaction, and we wish Glennon Brothers every success for the future as they further consolidate their position as a leading forest to front door supplier.”
If you are thinking about selling your business, buying a business, or need funding for growth, please contact James Whittaker at: james.whittaker@hazlewoods.co.uk.