Brooks Group has been bought out of insolvency by Premier Forest Products Group, a Welsh timber importer.
The price has not been disclosed but the investment will secure 60 of the 120 jobs at the group, according to Mark Lohan, managing director of Brooks.
“Our owners are timber people and understand the business. Together, we look forward to rejuvenating the Brooks brand and will continue to place an emphasis on quality and customer service in the delivery of timber and timber-based panel products and the entire range of building materials.”
Brooks is one of Ireland’s oldest timber companies and it will now operate from a reduced network of six premises, two of which will be in Dublin and the others in Galway, Tullamore, Sligo and Cork.
Brooks was part of the BHT group that went into liquidation in April following examinership.
The other parts of the business, Heat Merchants and Tubs and Tiles, have already been sold by the liquidator Kieran Wallace of KPMG to Harleston, the owner of the Irish-based Hevac heating and plumbing supplies group, for an undisclosed sum.
All three companies were previously part of Wolseley Ireland, which sold them to private investors.
Premier Forest Products Group is one of the major timber importers in the UK and the acquisition of Brooks represents its first real entry into the Irish market, according to Mr Lohan.
