Lords has announced it has acquired Advance Roofing Supplies for £3.74 million.
Established in 1994, Advance Roofing Supplies, is an independent supplier of roofing materials, specialising in pitched and flat roofing sales to customers locally and nationally. The company currently operates from two locations, Aylesbury in Buckinghamshire, and Long Marston in Hertfordshire.
The acquisition of Advance Roofing Supplies offers attractive synergies with the Group’s merchanting division, increasing product range, and expanding the Group’s customer base particularly in the South East of England.
In due course, Lords expect to expand the Advance Roofing Supplies brand via implant branches into relevant locations, starting with the Beaconsfield site, which itself is currently undergoing an extensive redevelopment.
For the year ended 31 March 2021, Advance Roofing Supplies generated profits of £0.6 million on revenues of £6.8 million. The acquisition has been funded from Lords’ existing resources.
Shanker Patel, Chief Executive Officer of Lords, said: “The acquisition of Advance Roofing Supplies further strengthens our service capabilities to existing customers and will offer significant synergies with our Merchanting division.
“We are delighted to bring Advance Roofing Supplies into the Group, and welcome their 15 employees to our team, as we continue to focus on serving our customers with a wider range of products and services.”