Grant & Stone has announced its acquisition of, and merger with, CRS Building Supplies (CRS) in a move said to mark “a decisive stage” in its strategy to expand through a combination of acquisitions, new site development and organic growth.
Established in 2005, CRS Building Supplies provides a broad range of heavyside building materials to trade and retail customers from 12 branches across Somerset. Headquartered in Wells, CRS is described as a highly successful local brand with a reputation for outstanding customer service, which has demonstrated continued organic growth since its formation.
Strategically, the partnership is viewed as highly complementary, creating scale and a geographic extension for both companies, as well as a strong platform for further growth. Culturally, both companies are highly aligned, sharing a common vision, independent ethos and commitment to providing the highest standards of customer service. The combined group will have 44 branches operating from London to the south west, over 500 employees and revenues in excess of £140m.
For CRS’ owners, the partnership reportedly secures the right custodian for their business to support future succession – one with shared values, who will maintain and respect their legacy. Founders, Chris Waelchli and Richard Liddle will continue to lead the CRS businesses working with Peter Cudd, Grant & Stone’s Chief Commercial Officer, to realise the growth opportunities that this partnership will deliver.
Despite the challenges instigated by Covid-19, Grant & Stone 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, this acquisition provides a strong platform for further growth and future partnerships, which the company is keen to explore.
Peter Cudd, Grant & Stone’s Chief Commercial Officer, said: “We are delighted to welcome CRS to the Group. We have much in common, making this a strong and logical 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.”
Richard Liddle, Director of CRS, said: “Chris and I are proud of all that we have built to date but we recognise that as part of a larger group, the company will be able to achieve much more. Partnering with Grant & Stone will facilitate this and we look forward to continuing this success story together.”