Internet office furniture business TC Group has announced the completed acquisition of office furniture wholesaler and installation specialist Woodstock.
The deal sees TC Group acquire 100% of the share capital and will bring in a combined turnover of more than £34m, while also providing many benefits to the merger, including improved logistics, operations and services, as well as expanding its export markets.
Joe O’Malley, former owner of Woodstock, will continue in role of managing director alongside Tim Ingham, sales director, and Paul Atherton, operations director, who both remain. However, finance director, Louise Ryalls, has decided to leave with immediate effect.
Woodstock will continue to operate as a separate entity from its current site at Corrie Way. It will continue to offer a delivery and installation service and will continue to sell its existing product range to existing customers.
Dan Wooler, group managing director for TC, said: “Woodstock is a similar business to TC in terms of its culture, style and operational process, and I am confident that it will be a great fit. I am also particularly excited about the potential for the combined business.”
Joe O’Malley, Woodstock managing director, added: “The interests of the ongoing business have been the primary concern during the negotiations with TC Group and I am very comfortable that we now have a business that will be able to deliver an even better service to Woodstock customers.”