Grant & Stone Group has announced its acquisitions of Total Plumbing Supplies Limited (TPS), Buildit Gloster Limited (Buildit), and Rawle Gammon & Baker Holdings Limited, trading as RGB Building Supplies (RGB).
These acquisitions create the largest independent builders’ merchant group in southern England and confirms Grant and Stone’s position as the leading independent supplier in the region. The enlarged group will have 74 branches stretching from West London to Cornwall, with over 1,000 employees and combined revenues approaching £250 million.
Established in 2001, TPS is an independent plumbers’ and heating merchant supplying trade and retail customers across Dorset, Wiltshire, Somerset and Devon. Headquartered in Honiton, Devon, TPS has five branches, each offering plumbing and heating supplies, as well as dedicated kitchen and bathroom showrooms.
Strategically, the partnership is highly complementary, consolidating Grant & Stone’s presence in the South West and extending the Group’s plumbing and heating offering in the region. It complements the Group’s recent acquisition in the region, CRS in Somerset, as well as providing a strong platform for further growth. Founders, Clive Handford and Ian Moses will continue to lead the TPS business, working with Matt Bland, Managing Director of Grant & Stone’s plumbing and heating division, to support its successful integration into the Grant & Stone Group.
Established in 2009, Buildit is an independent builders’ merchant headquartered in Gloucester. Its three branches provide building materials to trade and retail customers across Gloucestershire and Wiltshire. 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.
Founded in 1850, RGB is one of the leading independent builders merchants in the South West serving customers across Devon, Cornwall and Somerset. Headquartered in Barnstable, its 22 branches offer trade and retail customers an array of landscaping, plumbing and heating, heavyside and lightside, decorating and general building materials, as well as dedicated kitchen, bathroom and bedroom showrooms in many locations. RGB also operates a timber sawmill and engineered wood product business under the RTD brand. The company employs over 300 people and in 2020, achieved revenues of £70 million.
RGB’s Chief Executive, Kevin Fenlon, will continue to run the business, reporting to Nick House, Grant & Stone’s Group CEO, and will join the Grant & Stone Group board.
Grant & Stone’s stated strategy has been to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth. With no overlap of locations, RGB’s highly complementary branch network and product range provide geographic expansion, product extension and provides a strong platform for further growth.
Despite the challenges caused 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, these acquisitions advance the Group’s ambition for further growth and future partnerships.
Ian Moses, co-founder of TPS, said, “Clive and I are proud of all that we have achieved to date but we recognise that as part of a larger group, the company will be able to achieve much more. Partnering with Grant & Stone will facilitate this and we look forward to continuing this success story together.”
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.”
Kevin Fenlon, Chief Executive of RGB, said, “This partnership is exciting and will deliver great things. I am looking forward to joining the Board and working together with the Grant & Stone Directors to advance the long-term strategy and future direction of the Group. We are completely aligned in our ambitions for the company and how we achieve them, as well as having a shared approach to product excellence and outstanding customer service.”