Post-acquisition, the partnership will create one of the UK’s largest cabinet producers.
Woodland Kitchens, a prominent Northern Irish manufacturer and supplier of kitchen, bedroom and bathroom furniture, has agreed a deal to acquire Scottish manufacturing business JTC Furniture. The transaction has been supported by a multi-million-pound investment from BGF—for a minority stake in the newly expanded Woodland Group—which will be used to fund the acquisition and to support future growth.
Woodland was founded by Brian McCloskey in 1987, as a kitchen showroom operation in Ballymena. Today, it is led by Brian’s son, Connor, and is now one of the leading kitchen, bedroom and bathroom cabinet suppliers in Northern Ireland. The business has a long-term track record of growth to over £25 million turnover. It serves major trade customers across the UK and Republic of Ireland, and employs more than 170 staff at its state-of-the-art facility in Rasharkin, County Antrim.
JTC is a Scottish manufacturer and supplier of fitted furniture, focused on the social housing and student accommodation markets. The company employs over 250 people at its Dundee headquarters. Post-acquisition, the partnership will create one of the largest cabinet producers in the UK, with a turnover in excess of £50 million.
The acquisition will allow both Woodland and JTC to capitalise on the benefit of the Group’s newfound scale, to continue enhancing its product range and service levels to their respective customer bases.
“Woodland and JTC are both established names in the kitchen furniture industry, and by combining the team’s knowledge of the market and complementary customer base, we believe there is high potential for growth. We are excited to join the Woodland Group as a minority investor as they embark on this expansion.”
Chris Nixon
Investor at BGF in Belfast
In addition to providing new investment, BGF’s Talent Network team has also introduced Marcus Moir to the business as Non-Executive Chair. Marcus brings with him a wealth of relevant industry experience in the home improvement space.
Connor McCloskey, CEO of Woodland Group, said: “Woodland has enjoyed strong organic growth in recent years but we have kept one eye on strategic, additive acquisition opportunities. The partnership with JTC was a move that made perfect sense, in terms of scale, common values, capabilities, and level of ambition.”
“JTC’s strong presence and longstanding customer base in the social housing, healthcare and student housing sectors, combined with Woodland’s own strengths in the distribution and large retail space, will allow both businesses to share best practice and take a collaborative approach to further growth. We look forward to working with the team in Dundee.”
Gordon Linton, Managing Director of JTC, added: “We have been impressed with Connor, Brian, and the wider team’s long-term vision for the business. We are convinced the strategic alliance with Woodland, with a proven, supportive backer such as BGF, will strengthen our own proposition and help develop our offering. For our team in Dundee, it will be very much business as usual, with a continued focus on providing great service to customers in the range of sectors where we are already a market leader.”
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