Stewart Milne to offload £100m timber frame arm

Aaron Morby 2 weeks ago
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Aberdeen-based Stewart Milne Group has put its market leading timber systems operation up for sale to focus on growing Stewart Milne Homes across Scotland and North-west England.

SMTS has factories in Aberdeen, Falkirk and Witney in Oxfordshire
SMTS has factories in Aberdeen, Falkirk and Witney in Oxfordshire

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.”

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