HMT LLP, partnering with Top 20 accountancy firm Haines Watts, advised the shareholders of premium log cabin and building manufacturer Norwegian Log Buildings Ltd, on their disposal to management. Ethos Partners invested £5.4 million to support the buyout.
Based in Reading, Norwegian Log design, manufacture and supply a range of bespoke premium log building products to both private and commercial customers, across a range of end user verticals throughout the UK. They offer timeless traditional and stylish contemporary ranges that are adapted for a variety of uses, including granny annexes, garden rooms, log homes and cabins, holiday cabins and much more.
The buyout was led by Ed Taylor (Sales Director) and Paul Williams (Contracts Director). The transaction facilitates an exit for the founding shareholders, Mark Chatfield and Nick Forrester.
Ethos’ investment will also support further growth of the business within the sector through delivery of the management team’s strategic objectives going forward.
HMT acted as lead advisors on the transaction which included assessing the strategic options for the shareholders and management, identifying suitable investment partners, negotiating detailed exit and investment terms, supporting the business through an extensive due diligence process and project managing the deal to a successful completion.
Mark Chatfield, Shareholder of Norwegian Log commented:
“It was a pleasure to work with the HMT team, who showed professionalism and attentiveness in securing the sale of the business. Ricky and Andrew provided us with invaluable advice and assistance during the transaction process, utilising their commercial expertise to manage a successful deal. We would not hesitate to recommend HMT to any prospective business sellers.
Scott Bannerman, Investment Director at Ethos Partners commented:
“We are delighted to have completed our investment into Norwegian Log and look forward to supporting the management team during the business’ next phase of growth. Under Ed and Paul’s leadership, Norwegian Log is well placed to build on its existing success, delivering premium bespoke log building products to customers nationwide. We are grateful to the HMT team for their work on the transaction, who went above and beyond to ensure a successful completion.
Andrew Thomson, Managing Partner at HMT commented:
“Mark and Nick have built a fantastic business over the past 25 years and we are delighted to have advised them on the disposal of their shares to the management team. With Ed and Paul leading the business and Ethos’ support, Norwegian Log is on the right track to deliver their ambitious growth plans. We look forward to working with them again.”