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 UK: SAM to acquire W Howard in major MDF mouldings market move
[Dec 11,  2023]

Northern Ireland-based Springfarm Architectural Mouldings Limited (SAM) is to acquire W Howard in a major move in the MDF mouldings business.

Both companies issued a joint statement announcing that Antrim-based SAM is to acquire the W Howard group of companies in the coming months

W Howard¡¯s sister companies are W. Howard Kildare Limited (WH) and Polyco Limited.

SAM and W Howard trading brands will continue to operate and trade as normal and all existing processes will remain the same until the deal is concluded, which will be subject to any usual legal and regulatory approvals.

¡°In an industry where consolidation is becoming ever more common, together, this will create an even stronger business unit, which will be well placed to continue to serve and grow our extremely valued customer base with an ever-increasing quality product range and a service offering which is second to none in the industry,¡± the statement signed by Sam McCrea and Jonathan Grant, the two men leading SAM and W Howard respectively.

SAM¡¯s Group accounts posted in November show a turnover of £71.1m for the financial year ended February 28, 2023. Its pre-tax profit was £17.4m for the period, up from £15.2m in the previous year. Accounts show shareholder funds of £31.1m.

W Howard recorded a turnover of £29.9m for the year ended December 31, 2022, and a pre-tax profit of £2.4m.

W Howard Group is celebrating its 65th anniversary this month. On 4 December 1958, Mr William Howard created the business, which began as a traditional timber merchant, serving the local farmers and joiners in and around Manchester.

Over the decades that followed, W Howard expanded to become a manufacturer and distributor of timber products, with Alan Grant joining the business in 1970. Alan¡¯s son Jonathan is now Group Chief Executive of a company that employs 165 people in five sites across England, Wales and Ireland.

Source: samonline.co.uk