Sale of Crofton Pallets

Logo of Croft Pallets

The team at PEM Corporate Finance acted as lead adviser to the shareholders of Crofton Pallets during the sale of the business to Scott Timber Group.

Company background

Crofton Pallets in Huntingdon is one of the UK’s largest pallet manufacturers and was sold by PEMCF to Scott Timber Group, the UK’s leading pallet manufacturer.  Key to the acquisition were Crofton’s manufacturing sites in east England at Huntingdon, Grimsby and Wisbech.  The sites now ‘complete the map’ for Scott Timber which has built its manufacturing bases around its customers and can now boast detailed coverage of the UK offering unparalleled levels of speed, efficiency and quality of supply.

The group will also be able to enhance its timber import operation in Riga, Latvia, which will be complemented by a similar operation conducted by Crofton out of Wisbech.  This paves the way for the shipment of over 25,000 cubic metres of timber every month to supply the newly enlarged group.

What was special

A heavily tailored sales approach was used by PEMCF to protect the confidentiality of the business at the same time as ensuring adequate exposure to potential competitors.  This approach worked, with the business finally being sold to Crofton’s major UK competitor.

Deal structure

100% of the equity in Crofton was sold.

 

Read the press release

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