Lords Group Trading has announced the acquisition of the majority shareholding in APP Wholesale.
APP Wholesale is a leading plumbing distribution company consisting of four divisions:
- Plumbing & Heating
- Retail & Stores
- Brands & Import
All of APP’s management will be remaining with the company including Chairman, Allan Pierce, who will also become a shareholder in Lords Group Trading (LGT). Allan has over 50 years’ experience in the industry and will bring a huge amount of expertise to the enlarged Group.
APP will form the distribution arm for LGT which currently consists of merchanting, manufacturing, and retail companies. Following this acquisition LGT will have 550 colleagues operating from 27 locations across the UK and a turnover in excess of £275m.
Shanker Patel CEO of LGT commented: “APP is the perfect acquisition for our Group as we continue our expansion by adding another independent Division to Lords Group Trading Limited. We are pleased that our “Family Equity” model is supported by vendors like Allan who can see the vision of what we are trying to create in a highly competitive and challenging sector.”
Allan Pierce, founder of APP Wholesale, remarked, “I am extremely proud of APP and of my exceptional team that I have built up over many years .The relationship of our suppliers and of our customers has been crucial to our success and I thank them all sincerely for their past and continued support. I am looking forward to working with Shanker Patel to take APP and the Group to even greater success”.