Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Independent builders merchant Lawsons has successfully negotiated the extension of its Barclays facilities, to November 2029 continuing the existing thirty-year relationship with the bank.
The new facilities comprise £16m of committed facilities with an additional £9m accordion which the Group will use to continue its journey of both organic growth and strategic acquisition having completed several successful acquisitions over recent years.
Lawsons group finance director Chris Harrison, said: “Our people strive for excellence as stewards of the communities we serve and our strong balance sheet creates a stable platform from which to serve the UK Merchant Market, which is worth £27 billion to the UK economy each year. These new facilities totalling £25 million give Lawsons a strong and secure foundation, leaving us well-positioned to execute our exciting growth strategy in serving the UK Construction sector across the South East over the next five years.”
Jeremy Norris, group managing director added: “Despite the challenging market trading conditions of the past twelve months the underlying strength of our Group’s balance sheet means we have extended facilities with the unwavering support of our long term banking partner, Barclays. After a prolonged period of growth, we have used the downturn in the market as an opportune moment to improve our customer offering and to consolidate and integrate recent acquisitions, as well as focus upon process and operations so that we are ideally placed to capitalise and grow when trading conditions improve.”
