Historic timber firm bought by Bradford business

By Tim Aldred

12 Sep 2023

Savoy Timber Acquisition

Savoy Timber, a family-owned firm of more than 70 years which has ranked as one of Lancashire's best-performing SMEs, has been acquired by a growing Bradford firm for £10m.

The timber merchant group generates more than £15m in annual sales through its superstores in Preston, Blackpool and Wigan as well as its online store.

With customers across the UK, the business supplies a wide range of timber products including doors, decking and worktops. It employs 82 people.

Savoy ranked 91st in this year's Lancashire Business View Hot 100.

Now the business has been acquired by Savoy Timber Holdings Ltd, a new company set up by Chris Powell of Estate Sawmills, a fast-growing Bradford-based timber merchant.

Estate Sawmills, also a family-run business, supplies timber, fencing, decking, agricultural products and gates to trade and DIY customers nationwide.

The deal follows the retirement of George Cornwell, managing director of Savoy Holdings. The business will continue to trade as Savoy Timber.

The transaction was in the region of £10m and was supported by a team of Yorkshire-based advisers. Hitesh Tailor, Nicola Cooper and Jonathan Simms of Clarion provided legal advice to the buyer, supported by colleague Julie Evans who provided property advice; and Gavin Lamb of Azets provided financial advice. The vendor was advised by Ormrods Solicitors. Banking was provided by NatWest with legal advice from Schofield Sweeney.

Chris Powell said: “After acquiring Estate Sawmills in 2020, we have seen rapid expansion and the acquisition of Savoy will enable us to continue our growth journey in this dynamic sector. Savoy is a long-established and well-known business that not only broadens our presence across the North, but its strong e-commerce platform also increases our market share throughout the UK as well as expanding our product offering.

"While Estate Sawmills has focused on external timber products, Savoy offers an extensive range covering all timber products, both inside and outside the house. This expanded product line will now also be available via Estate Sawmills.

“We have an ambitious vision and this latest acquisition marks another important milestone as we seek to press on with our expansion, having capitalised on the garden improvement boom post-Covid. We are now actively looking for a complementary timber business in the South to strengthen our national coverage.”

Enjoyed this? Read more from Tim Aldred

Latest news

1

Pendle play centre wins national award FUNDA LAND Award Win

Pendle play centre wins national award

18 Jun 2024

2

Lancashire leaders named on King's birthday honours list Simply Doughnuts Export Award

Lancashire leaders named on King's birthday honours list

17 Jun 2024

3

PM+M's new charity programme seeks organisations to support Tara Maynard, Claire Astley & Helen Clayton.jpg.jpg

PM+M's new charity programme seeks organisations to support

18 Jun 2024

4

Hyndburn's vibrant culture celebrated at record-breaking event The Connecting Cultures event was the busiest to be hosted at Haworth Art Gallery in its 100 year history.jpg.jpg

Hyndburn's vibrant culture celebrated at record-breaking event

18 Jun 2024

5

Rossendale business expo celebrates successful debut Rossendale Business Expo

Rossendale business expo celebrates successful debut

18 Jun 2024

Lbv116 Ltb Strip980
Background image for hub sign up block

LBV Hub

Reach 50,000 members of the Lancashire business community

Post your news
Post your events
Post your offers
Company profile
Social reach
Magazine coverage
Sign-up
Events
RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
11 Jun 2024 - 04 Dec 2024

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 16:30

Business Networking in Chorley - BNI Endeavour
EVENT LISTING SIZING Endeavour.png.png
LBV Hub Networking
18 Jun 2024

Business Networking in Chorley - BNI Endeavour

Oak Royal, Bury Lane, Chorley, PR6 8SW

06:30 - 08:30

Business Networking in Blackburn - BNI Vista
EVENT LISTING SIZING Vista.png.png
LBV Hub Networking
18 Jun 2024

Business Networking in Blackburn - BNI Vista

Hampton by Hilton, 2 Frontier Ave, Blackburn, BB1 3AL

06:45 - 08:30

Exclusive Free Event - An inspiring morning with Professor Paul McGee, The SUMO Guy
Paul McGee Event
LBV Hub Seminars
19 Jun 2024

Exclusive Free Event - An inspiring morning with Professor Paul McGee, The SUMO Guy

Village Hotel Blackpool , Blackpool , FY3 8LL

08:30 - 13:00

Business Networking in Accrington - BNI Zeus
EVENT LISTING SIZING Zeus.png.png
LBV Hub Networking
19 Jun 2024

Business Networking in Accrington - BNI Zeus

The Mill House, Corn Mill Yard, Accrington, BB5 5HX

06:45 - 08:30

Bold Moves Mastermind - Procrastination to Profitable Pricing
BV Online Course Title pages (1).jpg.jpg
LBV Hub Seminars
19 Jun 2024

Bold Moves Mastermind - Procrastination to Profitable Pricing

Oswaldtwistle Mills Business & Conference Centre, Oswaldtwistle, BB5 0EY

09:30 - 12:30

Free 4 Week Growth Ignition Coaching Programme
UCLan Primary logo RKE.png.png
LBV Hub Seminars
19 Jun 2024 - 03 Jul 2024

Free 4 Week Growth Ignition Coaching Programme

Online, Preston, PR1 2HE

12:00 - 13:30

Business Networking in Preston - BNI Diamond
EVENT LISTING BNI Diamond.png.png
LBV Hub Networking
19 Jun 2024

Business Networking in Preston - BNI Diamond

The Marriot Hotel, Garstang Road, Broughton, PR3 5JB

07:15 - 09:00

Business Networking in Burnley - BNI Kudos
EVENT LISTING BNI Kudos.png.png
LBV Hub Networking
20 Jun 2024

Business Networking in Burnley - BNI Kudos

Prairie Sports Village, Windemere Avenue, Burnley, BB10 2FU

06:45 - 08:30

THE ABSOLUTELY FABULOUS COMEDY DINNER SHOW
AbFab Social Post.jpg.jpg
LBV Hub Social
20 Jun 2024 - 20 Jun 2024

THE ABSOLUTELY FABULOUS COMEDY DINNER SHOW

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

18:30 - 23:00

Business Networking in Lancaster - BNI Castle
EVENT LISTING BNI Castle.png.png
LBV Hub Networking
20 Jun 2024

Business Networking in Lancaster - BNI Castle

Vale of Lune RUFC, Powder House Lane, Lancaster, LA1 2TT

06:45 - 08:30

Business Networking in Preston - BNI Brunch
EVENT LISTING SIZING Brunch .png.png
LBV Hub Networking
21 Jun 2024

Business Networking in Preston - BNI Brunch

Samlesbury Preston Hotel, Preston New Road, Preston, PR5 0UL

09:30 - 11:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV116 Online Graphic
Subscribe now

Weekly news bulletin