Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Builders merchant group Independent Builders Merchant Group, is initiating a financial and operational restructuring programme across 13 of its merchant brands, which will recapitalise the group, compromising certain liabilities, including leases across its branch network, alongside a significant reduction in debt owed to the banks.
Assuming court approval of the plans, this restructuring means will be a change of control between the Group’s current shareholders and its Senior Lenders.
The Group has emphasised that the trade suppliers will not be compromised by the plans, and that IBMG is focused on maintaining business as usual, and that the restructuring will be ‘transformational’, providing a strong financial platform to build a resilient and thriving future for the business.
IBMG has been formed by a series of acquisitions across the UK builders merchant sector, starting in 2018, with Parker Building Supplies, adding, among others, Grant & Stone in November 2019, RGB, BuildIt and Total Plumbing in March 2021. In September 2021 it created the largest builders merchants group in the south of the UK with the merger of Grant & Stone Group and Independent Builders Merchant Group.
