The largest builders merchants group in the south of the UK has been formed today with the merger of Grant & Stone Group and Independent Builders Merchant Group.
The new group has 123 branches, revenues in excess of £500 million and over 1,700 employees. Its reach extends from Cornwall to Kent and comprises builders’ merchants, electrical wholesalers, plumbers’ merchants, kitchen and bathroom showrooms, roofing merchants, a timber processing site, and a dedicated ecommerce business.
The move has been made possible with the support and investment from their strategic partner, Cairngorm Capital, which has underpinned the transformational growth that both sides have undergone in the last few years.
Via a combination of acquisitions and organic growth, IBMG has grown from 15 branches and revenues of £67m in March 2018, to 39 branches and revenues of over £200m. In parallel, Grant & Stone has scaled its business from 29 branches in the Thames Valley and
revenues of £100m in November 2019, to 84 branches between London and Cornwall, and revenues in excess of £300m.
At a group level, the new combined company will be known as Independent Builders Merchant Group. However, given the strength and trust invested in the group’s 12 market-leading brands, the existing trading names and brands will continue to be used for all customer-facing activity. The group comprises the merchant brands Grant & Stone, RGB, Parkers, Chandlers, Stamco, Fairalls, CRS, Total Plumbing Supplies, 3Counties and Dovedale Electrical
Nick House, Group Chief Executive of Grant & Stone, will lead the new combined IBMG business, with Peter Cudd (Group Managing Director). They will be supported by a new Group Board, led by David Moore as non-executive Chairman and executive directors – Allun Pittingale (Group Managing Director for IBMG South East), Kevin Fenlon (Group Projects Director and Chief Executive of RGB) and
Richard Robinson (Group Chief Financial Officer).
Nick House, Group Chief Executive of IBMG, said “This merger is the natural progression for both companies. Our branch networks and product ranges are highly complementary and our values, vision and commitment to customers are completely aligned, which creates exciting opportunities for us all. We have ambitious goals to fulfil but IBMG is well structured, with strong investor support, exceptional
products, first-rate employees and a well-deserved reputation for superior service. I look forward to
leading the next phase of development.”
Allun Pittingale, Group Managing Director of IBMG South East added, “This merger is exciting and as both companies can learn much from each other, it will deliver great things. I am looking forward to working together with Nick, David and my fellow directors to develop the long-term strategy and future direction of the new group.”