Monday, 24 September 2012

Laidlaw Interiors Group Completes Acquisition of Timbmet Door Solutions Ltd

Laidlaw Interiors Group Ltd, backed by the leading private equity fund, Rutland Partners has completed the acquisition of Mansfield based door manufacturer Timbmet Door Solutions Ltd (TDSL).
Following the conditional agreement made in July, the parties made a voluntary submission to the Office of Fair Trading (OFT) to ensure that there were no competition issues arising from the merger. The OFT has carried out a thorough review of the market and has concluded that the merger will not result in any lessening of competition in the market. Consequently the transaction has now been cleared and was completed on 17th September 2012.
TDSL is a major supplier of performance doorsets for the non-domestic internal timber door market. The company employs around 200 people in the UK with offices in Leicester, London, Manchester, Mansfield, Shrivenham and Stockton and operates a modern production facility in Mansfield. It also has a manufacturing facility in India supporting international building projects.
Laidlaw Interiors Group is the UK’s leading supplier of integrated interior products. Its brands include office fit out and partitioning specialist Komfort, door manufacturer Leaderflush Shapland and ironmongery, doorsets, access control and balustrading supplier Laidlaw Solutions. The Group also incorporates Cubicle Systems washrooms and Tufwell Glass.

On a related matter, since the acquisition of Leaderflush Shapland in August 2011, Laidlaw Interiors Group have carried out a comprehensive review of its door manufacturing operations in Barnstaple as the site had been sold for development and previously scheduled for closure by its former owners. Following this review, it has now been confirmed that the Barnstaple factory will cease to operate at the end of November 2012. It is envisaged that this will result in the loss of approximately 75 jobs. Laidlaw have commenced appropriate dialogue with the Employee Representatives as part of a consultation process with employees affected by this decision. Such discussions include opportunities for alternative employment at other sites and businesses within the Group. We will however continue to have a commercial office in Barnstaple to support our wider business and look forward to continuing to be an employer in North Devon.

Laidlaw intends to invest further in its combined door business and to exploit its scale and expertise to deliver world class products, technical support and, above all, customer service. They will utilise their manufacturing flexibility both in-house and with existing supplier partners to provide market leading products at best value to its customers.

Laidlaw Interiors Group CEO, John Jefferies said:

“TDSL brings to LIG an excellent product range, access to international markets and wider customer reach, backed by an exemplary approach to service. The combined businesses will greatly enhance the value we can provide to our customers through a more integrated and flexible supply chain. Throughout this process we have looked at all options to keep the Barnstaple manufacturing operation open as the commitment of the team there has been exceptional. Unfortunately, we have been unable to find a commercially viable solution and as such we expect manufacturing will cease at the end of November 2012. We have commenced consultation with the work force to ensure the impact of this decision will be minimised. We will however continue to have a commercial office in Barnstaple to support our wider business.” 
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