Grant & Stone announces three major acquisitions

Grant & Stone announces three major acquisitions

Grant & Stone has further expanded its Group with the acquisitions of RGB Building Supplies, Total Plumbing Supplies and Buildit to create what is reportedly now the largest independent builders’ merchant group in southern England.

The enlarged group will have 74 branches stretching from West London to Cornwall, with over 1,000 employees and combined revenues approaching £250m. These latest acquisitions follow on from other recent deals including CRS Building Supplies in January and 3Counties Timber & Building Supplies last autumn.

Of the latest acquisitions, RGB has a long and prestigious history from its founding in 1850 to become one of the leading independent builders’ merchants in the South West serving customers across Devon, Cornwall and Somerset. Headquartered in Barnstaple, RGB employs over 300 people and in 2020, achieved revenues of £70 million.

The business trades from 22 branches (with dedicated kitchen, bathroom and bedroom showrooms in many locations) and also operates a timber sawmill and engineered wood product business under the RTD brand.

RGB’s Chief Executive, Kevin Fenlon, will continue to run the business, reporting to Nick House, Grant & Stone’s Group CEO, and will join the Grant & Stone Group board. Kevin said: “I am looking forward to joining the Board and working together with the Grant & Stone Directors to advance the long-term strategy and future direction of the Group. We are completely aligned in our ambitions for the company and how we achieve them, as well as having a shared approach to product excellence and outstanding customer service.”

Established in 2009, Buildit operates from three branches across Gloucestershire and Wiltshire. The acquisition was initiated by Buildit’s owners’ succession planning and strengthens Grant & Stone’s geographic expansion by complementing the Group’s recent acquisition of CRS in Somerset.

Buildit’s management team — Managing Director Derek Meecham, Finance Director Brenda Meechan and Operations Director James Keyse — will work with Mat Miller, MD of Grant & Stone’s Builders & Timber Merchants division, to support the successful integration into the Grant & Stone Group.

Derek Meecham said: “The Directors are proud of all that we have achieved to date but we recognise that this is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. We are looking forward to facilitating a successful handover of the business to Grant & Stone and are confident that under its stewardship, Buildit will go from strength to strength.”

Lastly, Total Plumbing Supplies (TPS) has five branches and serves trade and retail customers across Dorset, Wiltshire, Somerset and Devon. Founded in 2001 and headquartered in Honiton, Devon, the acquisition was also initiated by TPS’ owners’ succession planning and further consolidates Grant & Stone’s presence in the South West and extending the Group’s plumbing and heating offering in the region.

Founders, Clive Handford and Ian Moses will continue to lead the TPS business, working with Matt Bland, MD of Grant & Stone’s plumbing and heating division.

Matt commented: “We are delighted to welcome TPS to the Grant & Stone Group. We have much in common, making this a compelling partnership. Our company is at a really exciting point in its development and this partnership ensures that we are well positioned to progress the numerous growth opportunities available to us.”

Despite the challenges instigated by Covid-19, Grant & Stone states that the business has remained resilient with a “clear focus of what it wants to achieve for the future”. With the support of its strategic investment partner, Cairngorm Capital Partners, the acquisitions “advance the Group’s ambition for further growth and future partnerships” and developing its operations through a combination of acquisitions, new site development and organic growth.

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