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Becketts has advised the shareholders of Timberwood Group on the sale of its business to ASX-listed Big River Industries (ASX:BRI).

Timberwood is a specialty manufacturer and distributor of a range of timber panel products, with a national customer network and local and overseas suppliers. The business has operations across three sites in Victoria and the ACT. The sale valued the Timberwood business at an enterprise value of $24 million. In addition to up-front consideration, the transaction also involves the issue of scrip consideration in Big River and earn-out cash incentives.

Big River is an integrated Australian timber products business, which is a major manufacturer of softwood, hardwood and plywood products in Australia. It has a customer base covering professional builders, formworkers, construction companies and building contractors, operating in the residential, non-residential and infrastructure markets.

The Becketts team included Rob Feiner and Rob Josephs, Partners, supported by Gus Ryder, Associate, on the M&A aspects of the transaction, and Caroline van Grieken, Partner, on the property aspects of the transaction.