Lords Builders Merchants has acquired a majority shareholding in Condell Ltd, which currently operates from two branches and has a strong on-line presence.
The company, which has a branch in Sutton (South London) and one in Horsham (West Sussex), was founded in 2006 by Ruth Condell, who is retiring, and Jim McMeckan, who is retaining a share in the company. He will be working closely with the exististing LBM management team to grow Lords business in South London as well as Condell’s presence online.
McMeckan commented: “When my co-director Ruth expressed a wish to step back from Condell Ltd and move towards retirement, it created an exciting opportunity to take the business to the next level through investment and collaboration.
“I was looking for a new partner who could not only help the company to grow organically but also bring new strategies and synergy to the business.
“Having dealt with Lords Builders Merchants for many years, they seemed like the logical choice - a true family run independent merchant, holding old school core values, also bringing the many advantages that come with being part of a large group.
“I would like to thank all our loyal colleagues, customers and suppliers for their support over the last 15 years and I very much look forward to offering our customers an improved product range across a wider area going forward”.
Tim Holton, Group Acquisition Director at Lords, added: “ We are delighted to now have a foothold for LBM in South London, an area we have been looking to move into for sometime. The acquisition of Condell also gives the Lords group the opportunity to increase its builders merchants presence on-line as we continue to develop our digital offering across the group”.
Lords Builders Merchants is part of Lords Group Trading Ltd and this latest acquisition is part of the family owned Group’s growth plan across all their divisions.
The structure of vendors retaining a share post-sale reflects the Group’s flexible approach to acquisitions and represents an opportunity for vendors seeking to grow their business with the assistance and scale that Lords Group Trading Ltd provides to its divisions.