FDC Supports Acquisition of Cheshire Mouldings to Form Summit Timber Group

Cheshire Mouldings & Woodturnings, a leading manufacturer and supplier of wooden fixtures, fittings and joinery, has been acquired by Hawthorn Timber in a multi-million-pound deal backed by Frontier Development Capital (FDC) to form Summit Timber Group.

The deal will see former BSW Group Chairman Tony Hackney take on the chairmanship of the newly formed Summit Timber Group. Jacquie Capper will continue as Sales Director of Cheshire Mouldings, while both Cheshire Mouldings and Hawthorn Timber teams will continue to manage the businesses. The group plans to consolidate its existing performance, increase capacity and broaden the capabilities of the business group and its product offerings. 

Hawthorn Timber, based in Hull, supplies machined and treated softwood, panel products and cladding solutions across the UK and Ireland, while Cheshire Mouldings, located in St Helens, produces and distributes mouldings, stair parts, panelling, decking and joinery timbers, supplying the retail and merchant sectors.

John Carney, Managing Director of Cheshire Mouldings, said: “I felt that although I am very passionate about Cheshire Mouldings and its team, it was time to encourage growth in the company which would need further investment and resource which the Summit Timber Group can provide.”

Toney Hackney, Chairman of the Group, said: “The long-established names of Cheshire Mouldings and Hawthorn Timber will remain. With our specialised focus on our current customer base and passion to grow we will be enhancing our capabilities to provide a full package. I am proud to be helping the Group to develop the skills and cross transfer the knowhow between the businesses.”

Ondrej Okeke, Investment Director at FDC, said: “We are pleased to have supported Hawthorn Timber on another deal and are looking forward to the exciting times ahead in the next stages of the newly formed Summit Timber Group. This is a great example of how FDC can support a range of transactions to help businesses develop.”

Part of Mercia Asset Management, FDC supports mid-market SME businesses across the country with debt funding between £1m and £7.5m.