West London-based Lords Builders Merchants has announced the acquisition of Kings Langley Building Supplies (KLBS).
KLBS operates from three sites in the home counties – Kings Langley, Aylesbury and Watford – and has been owned by Jim Rance and his wife Marie since 1978. Lords says that the acquisition provides it with an opportunity to expand beyond West London and adds “three great branches to its existing sites.”
Both busineses are members of the H&B Buying Group, and this is the fourth takeover of a fellow H&B member by Lords.
Tim Holton, the merchant’s Acquisitions & Integrations Director, commented: “KLBS Ltd is a great addition to the Lords Group as it has fantastic locations which are ideally suited to our network. We will be investing in these branches to bring them in line with our existing branch offering and a 5-year investment plan is being created.
“Working with Jim Rance on the transaction over the last few months has brought out the synergies between the two companies, especially in relation to customer and staff loyalty. We are committed to maintaining KLBS’s reputation while modernising its premises and increasing the range of services and products available to customers.
“We wish to acknowledge the assistance of Collins M&A Consultants who were lead advisers to KLBS Ltd and provided a professional service throughout the sale and purchase process.”
With this latest acquisition, Lords will operate from six large heavyside branches, a George Lines civils branch and two branches under the Hevey Building Supplies brand. The Lords Group has set a target of becoming a top 10 merchant within the next five years and will be continuing to seek further acquisitions.