Woodland Kitchens, a prominent Northern Irish manufacturer and supplier of kitchen, bedroom and bathroom furniture, has agreed a deal to acquire Scottish manufacturing business JTC Furniture.
The transaction is supported by a multi-million-pound investment from BGF (for a minority stake in the newly expanded Woodland Group) which will be used to fund the acquisition and to support future growth.
Woodland, based in Ballymena, is one of the leading kitchen, bedroom and bathroom cabinet suppliers in Northern Ireland with over £25m in turnover. It serves major trade customers across the UK and Republic of Ireland and employs more than 170 staff at its state-of-the-art facility in Rasharkin, County Antrim.
JTC is a Scottish manufacturer and supplier of fitted furniture, focused on the social housing and student accommodation markets. The company employs over 250 people at its Dundee headquarters.
Post-acquisition, the partnership will create one of the largest cabinet producers in the UK, with a turnover in excess of £50 million.
“Woodland has enjoyed strong organic growth in recent years, but we have kept one eye on strategic, additive acquisition opportunities,” said Connor McCloskey, CEO of Woodland Group.
“The partnership with JTC was a move that made perfect sense, in terms of scale, common values, capabilities, and level of ambition.”
“JTC’s strong presence and longstanding customer base in the social housing, healthcare and student housing sectors, combined with Woodland’s own strengths in the distribution and large retail space, will allow both businesses to share best practice and take a collaborative approach to further growth.”
Gordon Linton, managing director of JTC, said the company was convinced the strategic alliance with Woodland, with a proven, supportive backer such as BGF, will strengthen its own proposition and help develop its offering.
