LONDON (ShareCast) - (Sharecast News) - James Latham has acquired the entire issued share capital of Dresser Mouldings Rochdale, it announced on Monday, which it described as a specialised processor of timber and cladding products.
The AIM-traded firm said it acquired Dresser for £1m, which would be satisfied in cash from its existing resources.

For the year ended 31 December 2018, the turnover of Dresser was £2.3m, with EBITDA coming in at £0.28m.

Founded in 2009, Dresser specialises in the processing and vacuum coating of bespoke timber products, the production of timber mouldings and other specialist timber machining for use in a variety of market segments.

Dresser operates from its site in Rochdale, and via an online store.

"We are delighted to have acquired Dresser which will allow us to increase our offering in processed timber," said James Latham chairman Nick Latham.

"We have worked together with Dresser for many years on some fantastic projects producing innovative solutions for architects.

"We have first-hand experience of the quality of their work and the in-depth knowledge of the staff at Dressers which is necessary for delivering these complicated projects."

Latham said the company saw a "great opportunity" to further grow and develop its products in that area.

"We look forward to working with the Dresser team and welcome them to the Latham family."

At 0846 GMT, shares in James Latham were down 0.29% at 860p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE