Stewart Milne Timber Systems has an annual turnover of around £100m and employs about 400 people, and claims a 20% market share.

The firm hopes to cash on strong market prospects for timber-frame which is expected to see its use double in the next five years to meet government housing targets.

SMTS has a current order book of close to £300m and has strong customer relationships with house builders including Barratt, Taylor Wimpey and CALA.

Alex Goodfellow, Stewart Milne Group Managing Director – Strategic Development, who is leading the sale process, said: “With the scale of the opportunity in the growing timber frame market, SMTS presents a highly compelling investment proposition.

“We anticipate attracting a high level of interest from potential buyers who will invest in order to capitalise on that opportunity.”