Supplier of timber and building materials, Sydenhams Group Limited, established in Poole, Dorset, United Kingdom (U.K.) have finalised their acquisition of Avon Plywood, based in Keynsham, Somerset, U.K., for an undisclosed fee.
Established in 1983 by Paul Williams, Chris Toogood, and Ken Miller, Avon Plywood provides customers with a broad range of machined and edged sheet materials that can be cut-to-size, and also supplies timber and mouldings from its bases in Bath and north-eastern Somerset.
According to the Bath Chronicle, there were no job losses in the wake of the takeover, with the managing directors of Sydenhams, James and Charles Sherborne, releasing a joint statement, “We are delighted to welcome the team at Avon Plywood into the Sydenhams Group and look forward to being able to offer our new and existing customers a wider range of products and services.”
On the other hand, Williams and Toogood stated that the acquisition had the ability to “put Avon Plywood in a strong position to move forward and expand for the future.” Additionally, they will continue to trade as Avon Plywood.
Part of the takeover had been managed by Royds Withy King, a law firm based in Bath, U.K.
“Royds Withy King has worked closely with Paul, Chris, and Avon Plywood for a number of years so we were delighted to be able to pull together a multi-disciplinary team to advise them on all aspects of the company’s sale to Sydenhams,” James Worrall, a senior associate at Royds Withy King, said. “Both companies are independent, family-owned businesses so there is a natural synergy between the two which, together with their complementary products, can only enhance their position in the market and add value to Avon Plywood’s substantial customer base.”
Source: The Bath Chronicle