Keith Builders Merchants has been sold in a management buyout.
The independent builders’ merchant, which has two depots in Keith and Forres, has been sold in a management buy-out (MBO) led by current Managing Director Jeff Smith. Joining him in the MBO as shareholder and director of the business is Kevin Mitchell. Between them they have almost 50 years of service at KBM.
A statement on the company’s Facebook page provided the following additional information:
The business was founded in Keith in 1988 and has been owned by Allan Bartlett for a number of years although it has been actively managed by the current senior management team for the last 7 years. Mr Bartlett is now happy to step back from the company and watch it take the next positive step forward for the future.
From a single depot, the business grew to a £10m+ turnover company that provides building materials including roofing , drainage , plumbing , joinery , insulation , kitchens and bathrooms. In fact everything you need for building, renovations or DIY. KBM supply materials to customers of all sizes whether you are landscaping your garden or building 600 houses. Serviced by a dedicated fleet of vehicles and many long serving employees the executive management team plan to build on KBMs strong position in the market to take the company forward in the coming years and to expand their presence throughout Scotland.
“This can only be great news for our customers, employees and suppliers. The deal isn’t about change; it’s about protecting the core values of the business, which have been in existence since the company was formed over 30 years ago. This MBO ensures the retention of the leadership team and enables a longer term strategic focus, which will ultimately help the business to achieve its ambitious growth targets,” said Mr Smith.
“It’s about continuing to put the customer first throughout the lifecycle of the buying experience, from initial contact with our sales team, right the way through to the delivery of the products. These are the family values which the business was built upon and which we will continue to make our priority in the future.
“I am delighted to be working with the same key people who have made us into the strong company we are today and that has the prospect and real desire to become a much bigger player within the builders’ merchant sector in the future. Kevin and I are extremely pleased to pick up the baton from Allan and we would like to take this opportunity to thank him publicly for this great opportunity given to us.
“We now look forward to continuing and developing our trade with both suppliers and customers and, most importantly, safeguarding and furthering the careers of employees who have spent many years with the company and just as importantly remaining as an independent builders’ merchant,” Mr Smith concluded.