The management team at Selkirk-based Oregon Timber Frame has bought out external shareholders, including a 15 per cent stake owned by Archangel Investors.
The move brings to a close a near 20 year relationship between the frame manufacturer for houses and the Edinburgh-based business angel investment syndicate. It is believed management bought out other investors with a 7.5% holding.
Oregon, which was established in 1998, specialises in the design, manufacture and erection of structural timber frame packages to volume house builders and developers.
In its most recent accounts, for the 2016 year, Oregon made a £1.9 million pre-tax profits on record sales of £21.7m.
Rod Lawson, chairman of Oregon, 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.”
From its headquarters in Selkirk, and a manufacturing plant in Burton upon Trent in Staffordshire, Oregon employs 148 staff.
David Ovens, chief operating officer at Archangels, said: “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.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here