Grant & Stone Group has announced the acquisition of Devondale Electrical Distributors (Devondale), expanding its network of specialist electrical wholesalers and complementing its recent acquisitions of builders’ and plumbers’ merchants in the South West of England.
Established in 1981, Devondale operates from nine branches across Somerset and Devon and is said to provide an extensive range of electrical and ancillary products to electricians, electrical contractors and facilities managers.
Grant & Stone’s stated strategy has been to develop its builders’ merchant and associated businesses through a combination of acquisitions, new site development and organic growth. Devondale’s “highly complementary” branch network and product range supports this, providing geographic expansion, product extension and a strong platform for further growth. Culturally, both companies are described as being “highly aligned” and “sharing a common vision, independent ethos and commitment to providing the highest standards of customer service”.
Devondale states that the new partnership “secures the right custodian for the business to support future succession – one with shared values, who will maintain and respect its legacy”. Paul Wood, Devondale’s owner and Managing Director will continue to lead the business, working with Darren House, Managing Director of Grant & Stone’s electrical division, to realise the growth opportunities that this partnership will deliver.
Darren said: “We are delighted to welcome Devondale to the Group. We have much in common so this is 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.”
Paul added: “I and the team are proud of all that we have built to date but we recognise that our company will be able to achieve much more as part of a larger group. Partnering with Grant & Stone will facilitate this growth and we look forward to continuing this success story together.”
