Grant & Stone has announced its acquisition of 3Counties Timber & Building Supplies Limited (3Counties).
Established in 2007, 3Counties Timber & Building Supplies, a member of the IBC buying group since 2012, provides a range of heavy and lightside building materials across Hertfordshire, Bedfordshire and Buckinghamshire. It also offers bespoke timber services from its branches in Aylesbury and Hemel Hempstead.
The acquisition, which was triggered by 3Counties’ owners’ succession planning, extends Grant & Stone’s geographic network beyond the Thames Valley.
Richard Dawson, Managing Director of 3Counties, will join Grant & Stone, which is itself owned by Cairngorm Capital, working with Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, to support 3Counties’ successful integration.
This transaction was led by Alex Bayliss, Managing Director at Cairngorm Capital, who said: “Despite the challenges instigated by Covid-19, Grant & Stone has remained resilient with a clear focus on delivering outstanding customer service.
“This is the first of a series of planned acquisitions for Grant & Stone, whose experienced leadership team has the talent and appetite to lead a much enlarged company. We are delighted to help Grant & Stone pursue its strategic ambitions.”
Nick House, Grant & Stone’s Chief Executive, said: “We are delighted to welcome 3Counties to the Group. Our shared values, vision and commitment to customers makes for an obvious partnership.
“Our company is at a really exciting point in its development – together, we are able extend our geographic presence and are well positioned to capitalise on the numerous growth opportunities available to us.”
Richard Dawson, Managing Director of 3Counties, said: “The Directors are proud of all that we have achieved to date but we recognise that the company has the potential to achieve much more.
“This is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. We are confident that 3Counties is in good hands with Grant & Stone and will go from strength to strength.”
This is Cairngorm Capital’s 25th proprietary, off-market transaction since July 2016. All of Cairngorm Capital’s portfolio companies, which spread across the building materials, fire protection, healthcare and business services sectors, have reportedly performed well throughout the pandemic-driven lockdown period and have returned to growth.