MKM Building Supplies is extending its geographic coverage into North Wales through the acquisition of Richard Williams (Deganwy) Limited.
The transaction completed on 1 April and it will be business as usual for staff and customers of the two branches based in Llandudno Junction and Ruthin.
Founded in 1938 in Deganwy, North Wales, Richard Williams (Deganwy) Limited was acquired by Martin Stewart in 1971. The business has grown impressively since and has carved out a first-class reputation in its territory, recently under the Joint Managing Directorships of Nigel and Robert Stewart, Martin’s sons. Nigel and Robert will remain with the business for a period of time to assist with the ownership transition.
The acquisition of this merchant network in North Wales continues the rapid growth of MKM and expands its geographic coverage. Richard Williams offers a wide range of products to its customer base in the area and this will be enhanced by the MKM product offering.
David Kilburn, the Founder of MKM Building Supplies Limited, commented: “We have found a like-minded company in Richard Williams (Deganwy) Limited which places the customer at the heart of its business. The team at Richard Williams is highly skilled, has superb product knowledge and a great reputation in the North Wales. We are confident this will be a great asset and look forward to the opportunities ahead.”
Nigel and Robert Stewart of Richard Williams (Deganwy) Limited, commented: “MKM has an impressive reputation in the industry and is well-known for its commitment to the local building trade. Becoming part of MKM’s dynamic growth and being able to continue to serve our customers in the way that we always have is a very exciting prospect.”
Grant Thornton and Addleshaw Goddard assisted MKM on the acquisition. Cleveland Scott and Glaisyers supported Richard Williams. Tim Scott, Managing Director at Cleveland Scott Limited, added: “It is a fantastic result for the shareholders and the company. We are delighted to have found a buyer in MKM who understands the ethos of the business and will carry on its long standing traditions. MKM’s vast experience of the sector and the high quality of management information available at Richard Williams ensured the due diligence process ran smoothly and to timetable – both parties were a pleasure to deal with throughout the transaction”.