UCM acquired an initial 50% share in MCI Timply three years ago and managing director Mark Plews said that the full acquisition had been planned “as part of a medium-term succession plan for the business”.
“Over the past three years we’ve had the opportunity to work with Mike and fellow director Nigel King and really understand their business, while they have remained in full control.
“Now the time is right to move on to the next stage and with Mike’s support, start succession over the next year or two.”
He added that MCI Timply would be integrated into the group so it could use UCM’s connections in Brazil, the Far East and China. It would also continue to develop its existing agency agreements.
“MCI Timply has a great reputation as a specialist agency in panels, often dealing with more unusual niche products, as well as volume sources,” added Mr Plews.
Mr Cater said the deal was the result of careful planning and gave MCI “access to the resources of a major agency group”.
“It secures the future for our loyal staff and should give great confidence to suppliers,” he said.
MCI Timply will continue to operate from its Much Hadham offices with its existing team.
