One of the UK’s best known timber companies has been acquired out of administration, saving 78 jobs, after Charterfields helped to find a buyer for the business.
F W Mason & Sons Ltd of Nottingham was acquired by the company behind Atkinson & Kirby Ltd of Ormskirk, the UK’s leading manufacturer of traditional hardwood flooring.
The business was placed in administration on 25 March this year. Charterfields was appointed by the administrators Andy Wood and Christopher White of The P&A Partnership, Sheffield, to help find a buyer.
Charterfields director David Smith said: “FW Mason was well known within the industry and at one time supplied many of the DIY chains. Though trade had suffered as a result of international competition, it has retained a strong client base of independent retailers.
“The business attracted keen interest from both trade buyers and potential investors throughout the UK. The acquisition will allow the buyer to further extend its client base in this part of the market and also provide it with additional expertise.”
Andy Wood of the P&A Partnership said: “We would like to thank the employees who have worked with the administrators during the last few months to keep the business trading. We were always convinced that there was a good core business and that by continuing to trade and restructuring the business we would find the right buyer.”