High Wycombe, 1 October 2020: Grant & Stone Limited, the leading independent builders' merchant in the Thames Valley, is pleased to announce its acquisition of 3Counties Timber & Building Supplies Limited (3Counties), marking a key step in its strategy to expand through a combination of acquisitions, new site development and organic growth.
Established in 2007, 3Counties Timber & Building Supplies provides a broad range of heavy and lightside building materials to individuals, contractors and commercial entities across Hertfordshire, Bedfordshire and Buckinghamshire. A trusted local brand with a reputation for outstanding customer service, 3Counties also offers bespoke timber services from its branches in Aylesbury and Hemel Hempstead.
With a shared vision, values and commitment to the highest standards of customer service, this transaction is highly complementary. Strategically, it extends Grant & Stone’s geographic network beyond the Thames Valley to the benefit of both companies’ customers. For 3Counties’ owners, it ensures the right custodian for their business to support future succession – one with shared values, who will maintain and respect their legacy. Richard Dawson will join Grant & Stone, working with Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, to support 3Counties’ successful integration.
Despite the challenges instigated by Covid-19, Grant & Stone has remained resilient with a clear focus of what it wants to achieve for the future. With the support of its strategic investment partner, Cairngorm Capital Partners, this acquisition provides the platform for further growth and future partnerships, which the company is keen to explore.
Nick House, Grant & Stone’s Chief Executive said, “We are delighted to welcome 3Counties to the Group. Our shared values, vision and commitment to customers makes for an obvious partnership. Our company is at a really exciting point in its development – together, we are able extend our presence and are well positioned to capitalise on the numerous growth opportunities available to us.”
Richard Dawson, Managing Director of 3Counties said, “The Directors are proud of all that we have achieved to date but we recognise that the company has the potential to achieve much more. This is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. We are confident that 3Counties is in good hands with Grant & Stone and will go from strength to strength.”
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Grant & Stone Limited: Established in 1987, Grant & Stone is an independent provider of quality products and services for the building, plumbing and electrical trades. Via its three specialist building, plumbing and electrical divisions, it has 29 branches across the Thames Valley, consisting of builders’ merchants, electrical wholesalers, plumbers’ merchants, timber merchants, as well as eight kitchen and bathroom showrooms. Its ecommerce subsidiary, Trading Depot, was launched in March 2008 as a one-stop solution for competitively priced, quality building, plumbing and electrical supplies for trade and retail customers. Headquartered in High Wycombe, Grant & Stone employs 360 people and in 2019, achieved revenues of £100m.
3Counties Timber & Building Supplies Limited: Established in 2007, 3Counties provides a broad range of heavy and lightside building materials to individuals, contractors and commercial entities across Hertfordshire, Bedfordshire and Buckinghamshire. A trusted local brand with the reputation for outstanding customer service, 3Counties also offers a bespoke timber services from its branches in Aylesbury and Hemel Hempstead.
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in well-performing, private mid-market growth companies in manufacturing, distribution and services industries. The firm’s goal is to build and realise value through growth and performance improvements. Cairngorm Capital’s unique mix of sectoral expertise and investment skill enables it to be actively involved in the strategy and operational focus of portfolio companies, partnering with management teams to grow revenue, enhance margins, improve cash flow or consolidate industry leadership positions.
Cairngorm Capital’s current portfolio includes majority owned stakes in:
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