Background

Founded in 1986, Timberwolf has specialised in the manufacture of professional wood chippers and shredders for over 30 years. The company has sold more than 16,000 machines during that period, becoming the largest seller of commercial wood chippers in the UK and establishing a growing global customer base. FRP had been actively involved in assisting the sole shareholder with succession planning, when a potential sale to Alamo Group arose after the Texas-based company made an unsolicited approach for the business.

Action

FRP was engaged as the lead adviser for the sale of the business, having built a strong relationship with the sole shareholder and directors over the previous 18 months. Our Corporate Finance team acted as lead advisors in relation to the sale of 100 per cent of the shares in Timberwolf. Given the work already undertaken by FRP up to that point, the team had a good understanding of the business and were able to react quickly to the approach, assisting the owner and directors with navigating through the legal and financial due diligence and sale processes.

Outcome

The successful transaction has secured the long-term future of a thriving and important employer in the local area, while facilitating the exit of the sole shareholder. The acquisition by Alamo Group – a company with approximately 4,070 employees, operating 27 plants in North America, Europe, Australia and Brazil – will enable Timberwolf to accelerate many of its strategic projects, and further reinforce its brand and market position by strengthening product innovation.