Atkins & Cripps recently moved to new premises near Ely and has another branch at Saltash near Plymouth. The deal is also expected to include subsidiary J Bland & Co in Liversedge, West Yorkshire.
None of the branches overlaps with existing Timbmet Silverman operations and all Atkins & Cripps staff, including the senior management team, are expected to stay with the company.
The deal has been agreed with Atkins & Cripps’ parent company, Coastal Lumber, one of the largest North American hardwoods producers.
Timbmet Silverman and Coastal have had a growing relationship for a number of years and the acquisition will ensure continued supply of Coastal’s timber into the UK market.
Timbmet Silverman chief executive Simon Fineman refused to comment on the deal until it was completed but made clear his views that the hardwood trade in the UK would continue to consolidate.
“There are only a few well-regarded, long-established hardwood merchants left and the market is polarising into larger companies able to offer customers a very strong national service and niche specialists who have a good customer following but few growth ambitions,” he said.
“At the same time, securing strong sources of supply around the world is increasingly important and timber producers want to trade with companies who can deliver volume, scale and local market expertise.
“The trend towards consolidation is inevitable. Timbmet Silverman has already followed this path with acquisitions over recent years and will continue, as we build our market leadership, as recognised by the recent TTJ Awards.
“In addition, with the rising cost of transport, having a clear logistics network capable of holding national stocks but offering efficient local delivery is now paramount.”
