Green Timber Technology to acquire TBS assets following loss of Henley production work

The agreement covers TBS’s manufacturing assets and intellectual property rather than the acquisition of its operating business. The technology will be incorporated into GTT’s existing manufacturing operation in Orange, New South Wales, with the company identifying three- to six-storey apartment buildings as a potential market for the acquired system.

The asset purchase follows Henley Properties’ decision to discontinue manufacturing through TBS, removing a significant source of production work for the Melbourne-based business.

TBS had been manufacturing prefabricated timber building systems for Henley’s townhouse developments, providing a relatively consistent production pipeline. However, one consideration in the arrangement was the suitability of TBS’s manufacturing processes for the predominantly low-rise townhouse typologies being delivered.

The TBS system had been developed with engineering and manufacturing capabilities applicable to larger, multi-storey buildings. While it could accommodate townhouse construction, the commercial benefits of its production processes may have been better aligned with projects involving greater building scale and complexity.

The loss of Henley’s production work formed part of the commercial circumstances preceding the proposed asset sale, although the detailed reasons for the conclusion of the manufacturing arrangement have not been publicly disclosed.

TBS manufacturing history and its relationship with Henley
Established in 2014, TBS developed a proprietary prefabricated timber building system incorporating engineered wall panels, structural connections and provisions for building services.

The company operated from an approximately 10,000-square-metre manufacturing facility in Dandenong South, applying production methods influenced by the automotive industry to the manufacture of prefabricated building components.

Over 12 years, TBS delivered projects across Australia and New Zealand, including townhouses, commercial buildings and multi-storey residential developments.

In a November 2024 interview with Built Offsite, TBS General Manager Tim Newman discussed the company’s manufacturing relationship with Henley Properties and the importance of standardisation in improving production output.

At the time, Newman explained that changes to design and manufacturing processes had enabled TBS to increase townhouse production from approximately one dwelling per week to more than three.

The Henley relationship provided recurring manufacturing work, although its subsequent conclusion also demonstrated the commercial exposure associated with dependence on a major customer.

GTT targets multi-storey apartment construction
Founded in 2021, GTT operates an automated timber manufacturing facility in Orange, NSW, producing prefabricated wall, floor and roof systems.

Led by CEO Pete Morrison, the company established its manufacturing operations at the former Electrolux facility in Orange, with investment support from the Pentarch Group.

GTT has progressively expanded its manufacturing capacity, including supplying prefabricated timber components for residential, social and affordable housing projects.

In February 2026, the NSW Government announced approximately A$4.8 million in funding to support the company’s manufacturing expansion.

According to Morrison, GTT has tripled its manufacturing output during 2026.

“GTT has signed an agreement to acquire TBS’s intellectual property, production system, and manufacturing equipment. Bringing this technology into our Orange operation opens an exciting next chapter for Australian timber construction,” Morrison said in a video accompanying the announcement.

GTT intends to use the acquired technology to broaden its manufacturing capabilities, particularly for three- to six-storey Class 2 apartment buildings.

The proposed application would extend GTT’s existing manufacturing activities into a building typology for which TBS had developed substantial engineering and project experience.

Any use of the system for apartment developments would remain subject to project-specific engineering, regulatory requirements and relevant building approvals.

Morrison said the acquisition would draw on technology already applied across a substantial number of projects, reducing the need for GTT to develop comparable systems independently.

For TBS, the agreement provides for the sale of its established intellectual property and manufacturing equipment, following more than a decade of involvement in Australia’s prefabricated timber construction sector.

“The Timber Building Systems team has been engineering and delivering prefabricated buildings across Australia and New Zealand for twelve years now,” Newman said.

“We’re exceptionally proud of the work that we’ve done, and we’re excited that the practical knowledge behind that work is being carried forward to the GTT team.”

The acquisition will give GTT access to TBS’s established timber construction technology and manufacturing equipment as it seeks to expand into three- to six-storey apartment construction.

The financial terms of the agreement, its completion date and the future status of TBS’s Dandenong South manufacturing operation have not been disclosed.

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