One of the key men behind new timber investment fund Brathay Investments has told TTJ of the company’s plans for the future following the takeover of Lancashire-based European Wood Products.
David Rogan, the former merchanting and fabricating (roof truss) managing director at Hunter Timber, said the fund, backed by several wealthy private individuals including JS sports chairman Peter Cowgill, had a 5-10 year plan to own a variety of timber businesses covering the whole of the UK.
Mr Rogan said Brathay’s acquisition focus would look at the wider joinery products market and timber engineering. Some of the other investors have also had experience in timber engineering
He confirmed that Brathay’s business focus had similarities to that of the Performance Timber Products Group, another investor-backed company which has acquired some of the UK’s leading timber window companies over the past few years.
“We are looking to cover the whole of the UK and position ourselves as one of the first choice suppliers,” said Mr Rogan. “It’s a good time to invest, ready for when the market improves.”
Mr Rogan, who has also previously worked for Alchemy when he helped improve the performance of MLM, said the last recession in the 1980s had also seen a lot of private equity activity in the timber sector.
He said no further acquisitions were envisaged in 2010 and Brathay would focus on European Wood Products, which trades as European Door Sets, for the time being. It’s a very profitable company, he added.
