Archangels bows out at Oregon Timber

Borders-based Oregon Timber Frame has completed a buy-out of its non-management shareholders, including the 15 per cent stake in the business held by its largest external shareholder group, Archangel Investors.

The move brings to a close a near 20-year relationship between the timber frame housing manufacturer and the Edinburgh-based business angel investment syndicate.

Selkirk-based Oregon, which was established in 1998, specialises in the design, manufacture and erection of timber frame structures to major house builders and developers. In its most recent accounts, the firm reported record turnover of £21.7 million and a pre-tax profit of £1.9m.

From its headquarters in the Borders, and an additional manufacturing plant in Staffordshire, Oregon employs almost 150 people.

Chairman Rod Lawson said: “Archangels haven’t just been investors, they’ve been friends and mentors too. But the time is right for us to repay that investment and to continue the Oregon growth story with a fantastic team of people and excellent prospects as one of the UK’S largest independent timber frame manufacturers.”

David Ovens, chief operating officer at Archangels, added: “Oregon has been part of the Archangels portfolio for almost 20 years and we are thrilled to see the business performing so well and making such a strong contribution to the local economy in the Borders.

“Archangels is proud of the contribution we have made to Oregon’s successful journey.” 0 Rod Lawson: ‘they’ve been friends and mentors’