TC is delighted to announce that it has completed the acquisition of 100% of the share capital in Woodstock that was previously owned by Joe O’Malley.
Of the current Woodstock management team, Joe O’Malley will continue as Managing Director, Tim Ingham as Sales Director, and Paul Atherton as Operations Director. Louise Ryalls, the Woodstock Finance Director, has decided to leave the business with immediate effect to pursue other interests. Louise has been a fantastic servant to Woodstock for over 25 years and will be missed. The accounts team at Woodstock will continue to assume responsibility for all finance matters under the direction of Chris Facey, Group Finance Director for TC.
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.
The benefits of this merger are significant:
- Combined sales of over £34m
- Combined stock value of over £8m at retail selling prices
- Established next day service on all products
- Established delivery and installation service on all products
- Combined delivery fleet of 22 vehicles
- Seating manufacturing and upholstery facility
- IT solutions for customer and supplier integration
- Established furniture outsourcing service (Logos)
- Extensive educational furniture product range (Titan)
- Exports to Europe, Middle East, North America, and Australasia
- Worldwide product-sourcing capability
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 said “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.”
Enquiries should be made, in the first instance, to:
|Dan Wooler||07967 086071||Dan.Wooler@tcoffice.co.uk|
|Joe O’Malley||07713 644474||Joe.OMalley@woodstockleabank.co.uk|
About TC Group
TC Group is a family-owned business established in Bristol in 1990. The company has sales of £26m and incorporates a full range of office furniture, seating and storage; the Titan range of educational seating and furniture; and the Logos furniture outsourcing service which TC operates on behalf of VOW and a number of online resellers.
The Group has enjoyed an average sales growth of 16% per year since 1999 (excluding the recent acquisition of Woodstock).
It operates with a simple philosophy that people are important – whether they are a TC team member, a customer, or a supplier.
Woodstock Leabank was established in the 1970s, specialises in the wholesale, delivery and installation of office furniture to the trade in the UK and Ireland, has 54 people and sales of £8m.
Woodstock performs 3,000 installations per month with a fleet of 11 two-man crew vehicles and operates from a 42,000 sq ft unit in Bredbury, Stockport.
Until the acquisition by TC Group, Joe O’Malley owned 100% of the share capital in Woodstock.