High Wycombe, 1 June 2021:
Grant & Stone Group, the largest independent builders’ merchant in Southern England, is pleased to announce that it has acquired Devondale Electrical Distributors (Devondale), expanding its network of specialist electrical wholesalers and complementing the recent acquisitions of builders’ and plumbers’ merchants in the South West of England.
Established in 1981, Devondale is the largest independent electrical wholesaler in the South West. Operating from nine branches across Somerset and Devon, it provides an extensive range of electrical and ancillary products to electricians, electrical contractors and facilities managers. Known for its technical expertise and outstanding service, Devondale is headquartered in Marsh Barton, Exeter and achieved revenues of £10m in 2020. Grant & Stone’s stated strategy has been to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth.
Devondale’s highly complementary branch network and product range supports this, providing geographic expansion, product extension and a strong platform for further growth. Culturally, both companies are highly aligned, sharing a common vision, independent ethos and commitment to providing the highest standards of customer service. For Devondale, this partnership secures the right custodian for the business to support future succession – one with shared values, who will maintain and respect its legacy. Paul Wood, Devondale’s owner and Managing Director will continue to lead the business, working with Darren House, Managing Director of Grant & Stone’s electrical division, to realise the growth opportunities that this partnership will deliver.
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 continues the Group’s trajectory for further growth and future partnerships.
Darren House, Managing Director of Grant & Stone’s electrical division said, “We are delighted to welcome Devondale to the Group. We have much in common so this is a strong and logical partnership. Our company is at a really exciting point in its development and this partnership ensures that we are well positioned to progress the numerous growth opportunities available to us.”
Paul Wood, Managing Director of Devondale said, “I and the team are proud of all that we have built to date but we recognise that our company will be able to achieve much more as part of a larger group. Partnering with Grant & Stone will facilitate this growth and we look forward to continuing this success story together.”
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021