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Premier Forest Products has acquired National Timber Systems (NTS), safeguarding an initial 160 jobs following the collapse of its former parent company.
NTS, a supplier of engineered timber products to housebuilders and the modular construction sector, was part of National Timber Group UK before both entered administration in late November.
Premier Forest Products co-founder and chief executive officer Terry Edgell said NTS was a strong strategic fit and would enhance its existing Mon Timber Engineering operations.
He added: “This acquisition will help support faster, more efficient housebuilding and modular construction through continued product innovation and the potential for additional manufacturing capacity in the future.”
The deal secures operations and manufacturing facilities in Bristol, Newcastle and Catterick, with plans to expand the number of former NTS workers taken on to 250.
A statement from administrators in November said that the collapse of the firm had led to 561 immediate redundancies across 47 sites in England and Scotland.
NTS produces BBA-accredited NTSROOF panelised roof systems, trusses, engineered joists and cassette products to national and regional clients.
In its most recent audited accounts for the 2023 calendar year, National Timber Group England posted a pre-tax loss of £6.3m from turnover of £196.6m.
In the accounts, directors blamed “continued macroeconomic uncertainty” and high interest rates for a “significant reduction in demand”.
The acquisition follows Premier Forest’s recent purchase of Arnold Laver sites in Manchester and Reading, also from administrators.
Nick Kershaw, managing director of National Timber Systems, said Premier Forest represented a good cultural fit and would allow the business to continue its development.