BHP backing timber firm in acquisition

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Corporate finance experts from Sheffield have helped a Lincolnshire timber business to acquire a North Yorkshire rival.

BHP Corporate Finance advised Grantham-based Associated Timber Services and Santander Corporate Banking on the acquisition of some of the businesses and assets of John Boddy Timber, of Boroughbridge.

ATS is owned and managed by Andy Lodowski and Rupert Schofield and operates in the specialist hardwood timber market.

“We are delighted to have worked with Andy and Santander on this acquisition,” said John Longstaff, who was part of the team, lead by BHP Corporate Finance partner David Forrest.

“Boddy’s has an impressive reputation and I am confident it will be re-established as a key player in the hardwood timber market under Andy’s stewardship as part of ATS.”