BalticPine, arguably the largest timber conservatory manufacturer in the UK, has been acquired for an undisclosed sum by Tony Murtagh through his investment company, West Country Investments.

Mr Murtagh, who created and developed the Mortgage Group in Falmouth and Truro into the UK's largest specialist broker over a five year period, sold the sales and marketing operation of the brokerage to General Electric Consumer Finance (GEFC) last October.

Mr Murtagh confirmed that this was his first acquisition in Cornwall since then and stated that ‘there are a lot of opportunities within BalticPine, capitalising on its dominant market position and brand name by reinvesting in the business and the 260 members of staff.’

He added that he saw BalticPine a good strategic fit with his redevelopment of the brokerage sales operation at the Mortgage Group as ‘we are able to provide loan finance to customers looking at home improvements, such as adding a conservatory.’

Mr Murtagh is actively seeking further acquisitions for West Country Investments which offer similar opportunities in property, building and home improvements.

Advised by Tim Jackman of Bond Pearce, who have already completed a corporate finance deal in the county this month, Tony Murtagh is now working with other BalticPine directors Ashley Warden and Trevor Howard in defining an ambitious future for the company. Under review are exciting redevelopment plans for their site at Longrock where BalticPine's sales and show site are located together with all manufacturing facilities. The show site at Longrock is open to the public Monday to Saturday. into the UK’s largest specialist broker in just a few years.

Tim Jackman, corporate finance partner with commercial law firm Bond Pearce, advised Mr Murtagh on the deal. He said: ‘Tony’s track record speaks for itself having built up The Mortgage Group into the UK’s largest specialist broker in just a few years.

‘By selling part of that group and setting up West Country Investments, he has created a new business that is reinvesting in the region. That’s excellent news for business owners looking at disposals or private equity investment and excellent news for the region as a whole.’

Source

Glass Age