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03/2022

TI MIDWOOD & CO acquired by BUFAB

UNITED KINGDOM Industrial Services / Industrial & Technical Distribution EV 50M - 150M GBP

Context

Bufab has successfully finalized the acquisition of all outstanding shares in TIMCO, a move that represents the largest transaction in the group’s history to date. This strategic expansion significantly bolsters the organization's presence in the British and Irish markets, incorporating a highly reputable brand with a dominant position in the construction C-parts segment. The rationale for the move centers on the integration of a specialized "one-stop-shop" platform that provides immediate access to an extensive network of over 4,500 independent merchants. By combining the target’s entrepreneurial DNA and merchant-focused expertise with the group’s global supply chain infrastructure, the partnership aims to accelerate regional growth and broaden the overall service offering. The integration allows for substantial cross-selling opportunities within the construction industry, particularly across safety-critical fasteners and site equipment. Furthermore, the deal reinforces the group’s commitment to consolidating fragmented technical distribution markets while maintaining high standards of customer service.

TI MIDWOOD & CO, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

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Target

TIMCO is a market-leading trading company and a premier "one-stop-shop" supplier for independent merchants within the construction industry. The organization’s business model is centered on the high-volume distribution of essential C-parts, including fasteners, screws, fixings, and specialized building hardware. Its value proposition is built on providing trade professionals with a comprehensive range of mission-critical products, spanning adhesives, power tool accessories, site protection, and personal protective equipment (PPE). Strategically, the entity focuses on maintaining an extensive product portfolio to serve thousands of independent merchants across the UK and Ireland. The firm prioritizes operational excellence and customer service, leveraging its deep industry knowledge and efficient logistics network to ensure reliable product availability. As a long-standing partner to the construction trade, the organization facilitates daily building operations through its specialized inventory management and merchant-focused support services.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2021
2020

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REFERENCES

Valuation range: EV 50M - 150M GBP

Revenue range: 50M - 100M GBP

EBITDA range: 5M - 25M GBP

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.