High Wycombe, 1 March 2021: Grant & Stone Group, the leading independent builders' merchant in the Thames Valley and the South West, is pleased to announce its acquisition of Buildit Gloster Limited (Buildit), continuing its strategy to expand through a combination of acquisition, new site development and organic growth.
Established in 2009, Buildit is an independent builders’ merchant with a reputation for outstanding customer service. Headquartered in Gloucester, its three branches provide a broad range of building materials to trade and retail customers across Gloucestershire and Wiltshire. The acquisition was initiated by Buildit’s owners’ succession planning.
This transaction is highly complementary as both companies share common values, vision and a commitment to the highest standards of customer service. In addition, Buildit’s branch network strengthens Grant & Stone’s geographic expansion complementing the Group’s recent acquisition of CRS in Somerset. Buildit’s management: Derek Meecham, Managing Director, Brenda Meechan, Finance Director and James Keyse, Operations Director, will work with Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, to support Buildit’s successful integration into the Grant & Stone Group.
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 advances the Group’s ambition for further growth and future partnerships.
Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, said, “We are delighted to welcome Buildit to the Group. Our shared values, vision and commitment to customers makes for an obvious partnership and a welcome addition to our Group. We are at a really exciting point in our development and this partnership strengthens our plans for growth.”
Derek Meecham, Managing Director of Buildit said, “The Directors are proud of all that we have achieved to date but we recognise that this is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. We are looking forward to facilitating a successful handover of the business to Grant & Stone and are confident that under its stewardship, Buildit will go from strength to strength.”
Grant & Stone was advised on this transaction by Grant Thornton (financial and tax) and Gowling (legal). Buildit was advised by Harrison Clark Rickerbys (legal) and Azets (finance).
Grant & Stone Group: 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, Grant & Stone has 44 branches stretching from London to the South West. Headquartered in High Wycombe, the Grant & Stone Group employs over 700 people and in 2020, achieved revenues of £140m.
Buildit: Established in 2009, Buildit is an independent builders merchant with a reputation for outstanding customer service. Headquartered in Gloucester, its three branches provide a broad range of building materials to trade and retail customers across Gloucestershire and Wiltshire.
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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