Suffolk-headquartered commercial wood chipper manufacturer Timberwolf has been acquired by an international trade buyer, in a deal supported by our Corporate Finance team.
The £15 million turnover firm, which manufactures and retails a broad range of commercial wood chippers in the UK and EU, has been bought by Texas-based Alamo Group. Founded in 1969, Alamo Group is a leader in the design, manufacture, distribution and service of high-quality equipment for infrastructure maintenance, agriculture and other applications. The group operates 27 plants across North America, Europe, Australia and Brazil, with its UK team based in Worcestershire.
Timberwolf, which has sold over 16,000 chippers since its inception in 1986, will operate within the Alamo Forestry and Tree Care Group. Alamo also owns the recognised UK brands of Bomford Turner, McConnel, Spearhead and Twose within its Vegetation Maintenance Division.
Timberwolf’s shareholders were advised on the sale by FRP Corporate Finance Partner, Dave Howes and supported by Matt Field and Cameron Robertson. Acting as lead adviser, the team was tasked with securing a buyer who would look after the firm’s employees and continue its upward trajectory.
Jeff Leonard, Alamo Group’s president and chief executive officer, said: “We are delighted to have completed our acquisition of Timberwolf. Timberwolf builds upon, and compliments, our existing range of tree care products and strengthens our presence in the UK and European forestry and tree care markets. We are pleased that Timberwolf’s management team will remain with the company and we look forward to working closely with them to drive the company’s future growth.”
Richard Marshall, Shareholder at Timberwolf, said: “ I am delighted with the outcome of the sale. FRP’s support ensured the sale was completed incredibly efficiently, the team was instrumental throughout, managing challenges and providing helpful advice at every stage of the process.”
Dave Howes, FRP Corporate Finance Partner said: “Over the past three-and-a-half decades, Timberwolf has established itself as the UK’s largest distributor of commercial wood chippers, making it an attractive proposition to a group with Alamo’s ambitious international outlook. In becoming part of the group, Timberwolf’s future remains bright as ever while providing the desired exit for its shareholders, who have played a key part in its success and growth to date.”