Hazlewoods, the UK accountancy and business advisory firm, has advised on the sale of Pontrilas Group to Glennon Brothers, Ireland's largest sawmiller, in a transaction that will expand the buyer's turnover by £120 million (€138 million). The deal adds more than 200,000 cubic metres of annual capacity to Glennon Brothers' operations.

The Ledbury Reporter stated that Hazlewoods provided vendor financial and taxation due diligence on the transaction. Based in Hereford, Pontrilas Group operates the largest timber processing mill in England and Wales, employing over 530 people.

James Whittaker, corporate finance partner at Hazlewoods, said: "It's been a pleasure working with Jonathan and Eric and the wider deal team on this transaction, and we wish Glennon Brothers every success for the future as they further consolidate their position as a leading forest to front door supplier."

Pontrilas Group was founded in 1947 by the Hickman family. Jeremy Hickman, chairman of Pontrilas, said he and the Hickman family were pleased to wish Glennon Brothers and the Pontrilas Group every success in the future.

Jonathan Poynton, chief executive of Pontrilas, said: "The team at Pontrilas are delighted to be joining the Glennon Brothers family of companies, and we look forward to exciting times ahead for the enlarged business."

Mike Glennon, joint managing director of Glennon Brothers, said: "We are delighted to welcome the Pontrilas Group into the Glennon Brothers family. This acquisition allows us to continue fulfilling our commitment to our customers of offering a one stop shop solution for sawn softwood across the UK and Ireland."

The cross-border transaction strengthens Glennon Brothers' position as a leading timber supplier across the UK and Ireland markets.

Explore how Hazlewoods' advisory expertise facilitated this major cross-border acquisition in the timber processing sector.