Addleshaw Goddard advised National Timber Group on the deal.National Timber Group, a leading UK timber distribution and processing business owned by Cairngorm Capital, have entered into a new Term Loan B facility with Pricoa Funds with super senior revolving credit facilities provided by Santander. The bespoke funding package also includes an acquisition facility which will provide the Group with further funding for growth.
AG have supported this Cairngorm Capital investment since its original acquisition of Thornbridge Timber in 2017. Since that transaction the Group have made a number of acquisitions which have given it full nationwide coverage with over 1,300 employees and 68 processing and distribution sites.
AG advised the Group in relation to the refinancing led by finance partner Euan Cluness (Picture). Euan was assisted by Peter Smartt, Daniel Zakrewski and Iona Gattenby.
Involved fees earner: Euan Cluness – Addleshaw Goddard; Peter Smartt – Addleshaw Goddard; Daniel Zakrewski – Addleshaw Goddard; Law Firms: Addleshaw Goddard; Clients: National Timber Group;