Acquisition brings together two companies selling reclaimed wood products
BROOKLINE, N.H. – A New Hampshire company specializing in the milling of reclaimed lumber has acquired a Massachusetts company specializing in building and finishing furniture built from wood previously used in beams and barn siding.
Euro Decora of Shirley, Mass., which completes web sales under Lake and Mountain Home and ECustom Finishes, has been acquired by Bingham Lumber, a third-generation company which produces everything from flooring to tables, all made from reclaimed wood.
The transaction was coordinated by John Howe, director, and Ken Schaefer, deputy director, of Business Transition Strategies, a New England-focused M&A advisory firm with offices in Pembroke, N.H. and Andover, Mass.
Euro Decora was incorporated in Massachusetts in 2004 by Jane Longden to create a line of casually elegant furniture. Pieces range from dining sets to living room tables, all built from old growth reclaimed wood. Finishes are customized to the tastes of customers.
Decora products have been featured on the popular show This Old House, on television sets including the Meredith Vieira show, and in photographs in national magazines.
Bingham Lumber for years milled soft and hardwood logs harvested from forests in New Hampshire and Massachusetts. Previously located in Fitchburg, Mass., the mill operation was moved to New Hampshire in 1973.
As the tide turned with lumber production, the third-generation owner – Tom Bingham – turned the focus to a new niche: milling reclaimed lumber in the form of flooring, siding, paneling, custom woodwork and more.
Both owners agree: the transaction creates a symbiotic relationship that is a win-win for both. The entire management and staff of Decora are being retained. The operation has been moved to the Bingham Lumber site.
“We are very excited about the future that we will be building together with the two companies working very closely in the years ahead,” commented Tom Bingham. Jane Longden remarked,
“I believe the sale enhances our capacity, and opens up new opportunities.”
Business Transition Strategies works with owners of private companies who want to sell or prepare for a transfer. Its clients include manufacturing, distribution, machining, coating, welding and gas companies in New Hampshire, Massachusetts and New York.
"The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home."
"Skip and I continue to be grateful for all you have done to make the sale of Pure Flow come to fruition."
"BTS’s level of expertise in the process and close attention to detail enabled us to successfully navigate the deal."
"These types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement."
"The outside objective point of view that you have brought us has been invaluable as we prepare for the rapid growth."
"John then found the right buyer and coordinated a seamless transition—he doesn’t miss a single detail."
"John immediately identified our strengths and experiences and discussed a business that ultimately was more in line with our goals."
"The BTS team came in, evaluated everything in a professional and thankfully non-threatening manner."
Transition to Freedom explores business transition experiences
Hats off to MJ Schoer for sharing his fascinating multi-level business transition story to a well attended meeting jointly presented by Business Transition Strategies and mPower Advisors.
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