Rembrand joins Thornbridge and NYTimber to create the leading independent timber distribution company in Scotland and the North of England

Thornbridge Sawmills Limited and Rembrand Timber Limited are pleased to announce that they have merged,
supported by further investment from Cairngorm Capital Partners LLP.

Thornbridge and Rembrand are the two largest independent timber processing and distribution companies in
Scotland so this merger marks a key milestone in the growth strategy for both businesses. Together with NYTimber
(who merged with Thornbridge in February 2018), they will create the leading independent timber distribution
company in Scotland and the North of England, with 35 branches, revenues exceeding £100 million and over 600
employees.

Established in 1982 and headquartered in Dundee, Rembrand is an importer, manufacturer and distributor of
timber. It has two manufacturing sites and 20 branches across Scotland, serving a broad range of customers in
the construction industry. In addition to an extensive range of timber, sheet and joinery products, Rembrand offers
a broad selection of roofing, insulation and other building materials via its subsidiary companies, Scotia Roofing,
Glow Insulation & Site Supplies and Rembrand Builders Merchants. In 2017 it achieved revenues approaching £50
million and employed 288 people.

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