Independent Builders Merchant Group (IBMG) has announced the appointment of Martin Stables as Group Chief Executive in addition to the acquisitions of Wantage Builders Merchants and Independent Roofing Supplies.
Joining IBMG in October 2021 as Group Chief Commercial Officer, Martin Stables assumes his new role as CEO with effect from 1 July and succeeds Nick House, who will continue to support the group as a non-executive director. Martin’s 25 years of industry expertise, leadership and strong cultural fit with IBMG’s independent ethos are described as being “invaluable in ensuring the continued growth of IBMG as the leading integrated building materials distribution business in the South of England”.
Nick led Grant & Stone, and more recently IBMG, with great success for over 30 years. From a small regional builders’ merchant founded in 1987, Nick has led a growth journey that created a business with revenues of over £600m, 169 branches and over 2,100 employees.
Having led such significant growth in recent years and now approaching retirement, Nick has decided that this is the right moment for him to step back from the day-to-day operations of the business. He explained: “To have achieved so much, with the support of a great team, fills me with pride. IBMG is well positioned for the next stage of its development so this seems the natural point for me to step back and pass the baton to Martin, while continuing to support the business in a non-executive capacity. Martin has demonstrated exceptional leadership qualities in the time we have worked together so I am confident that with the support of our outstanding management team, the business will thrive.”
Martin added: “It has been a great pleasure to work with Nick – I have learnt much from his leadership and innate understanding of our people and customers. We share a common vision for the business so I am glad that he will continue to be involved as a non-executive. We are at a really exciting point in our development and have ambitious goals to fulfil but we are well-equipped to meet them.
“We are well structured, have strong investor support; exceptional, fiercely independent trading brands; first-rate employees, and a well-deserved reputation for outstanding service. I am honoured and delighted to lead our talented team during the next phase of our growth.”
IBMG has recently acquired Wantage Builders Merchantswhich operates from one location in Grove, Wantage, and offers a mix of heavy and lightside building materials to trade and retail customers. Said to resolve future succession for Wantage, Branch Manager Brian Norris will continue with the business working with Grant & Stone MD Mat Miller to ensure its successful integration into the Group.
Vic Cox, Director at Wantage, said: “It has been a great honour to lead the employees of Wantage through the years, and having made the decision to retire, it seemed logical to find a partner who would ensure Wantage fulfils its potential. I believe the partnership with IBMG will achieve this. I am confident that this acquisition will provide an excellent home for both our customers and our people who will thrive within a highly respected, independent builders’ merchant focused on excellent customer service.”
Trading from three locations in Bexhill, Newhaven and Hove, the acquisition of Independent Roofing Supplies expands IBMG’s specialist roofing division in the South East. Working with Danny Spokes, MD of IBMG’s roofing division, IRS directors John Wond and Andy Mansfield will continue with the business to ensure its successful integration into the Group.
