Laidlaw Interiors, the architectural ironmonger backed by UK mid-market turnaround specialist Rutland Partners, has acquired doorset supplier Timbmet Doors Solutions (TDSL) for £7.8m.
TDSL is a major supplier of performance doorsets for the non-domestic internal timber door market.
The company employs over 200 people in the UK at its six regional offices and production facility in Mansfield, and has a manufacturing facility in India supporting international projects.
TDSL had turnover of £21m and EBITDA of £1.5m for the year ended 31 March 2012. The combined business will create an integrated and flexible supply chain for Laidlaw’s customers, Rutland said.
Laidlaw’s brands include office fit out and partitioning specialist Komfort, door maker Leaderflush Shapland and ironmongery, doorsets, access control and handrail and balustrade supplier Laidlaw Solutions. The group also incorporates Cubicle Systems washrooms and Tufwell Glass.
Rutland invested alongside John Jefferies, CEO of LIG, through the simultaneous acquisition of Laidlaw and the interiors manufacturing division of SIG Plc, creating LIG in August 2011.
“LIG’s acquisition of TDSL further develops the group’s activities. LIG has made good progress in the last year and we continue to look to expand the group’s offer,” said Rutland managing partner Paul Cartwright.
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