A TIMBER company in the south of the region has acquired a builders' merchant in County Durham for an undisclosed sum.

Northallerton-based North Yorkshire Timber (NYT) has bought Ward and Naylor, based in Wingate, near Durham, as part of its expansion programme.

In the past two years NYT has undergone a management buy-in, moved into £1.5m purpose-built headquarters at Northallerton Business Park and opened a branch in Darlington.

The firm, which employs 118 people, expects turnover for the year to March 31 to climb to £12.5m, compared to £10m last year.

Managing director Peter Kershaw said: "We are very excited about this acquisition, and we are keen to continue growing through this route."

NYT has sales centres in Ripon, Richmond, Northallerton, Middlesbrough, Darlington and Sunderland.

Ward and Naylor, which has a turnover of £650,000, operates in Peterlee, Durham and Hartlepool.