The company, which covers Peterlee, Durham and Hartlepool, has a turnover of £650,000 and will continue to trade as Ward and Naylor under managing director Simon Naylor. The value of the deal was not disclosed.
NYT managing director Peter Kershaw said: “We’re very excited about this acquisition and we are keen to continue growing through this route.”
Mr Naylor said: “Ward and Naylor was established in 1972 by my father John and his business partner John Ward. We have all worked hard to make it a profitable concern. Once I had decided to sell the company I was keen to find a buyer who could develop what we had built.”
NYT plans to introduce some building materials into its sales centres in Ripon, Richmond, Northallerton, Middlesbrough and Darlington, as well as its Joseph Thompson Timber branch in Sunderland, while the Ward and Naylor locations will stock more timber products and services.
In November NYT announced record sales of £1.2m in a month and said it projected turnover for the financial year to March at £12.5m.
Sales and marketing director Nick Kershaw attributed the increase in business to a widening of the product range to housebuilding items such as engineered joists that had attracted the business of several large housebuilders with developments in the region.
With the acquisition, NYT now employs 118 people.
