Lords Group Trading has announce the acquisition of the majority shareholding in APP Wholesale.
APP Wholesale is a plumbing distribution company consisting of four divisions (Plumbing & Heating, Retail & Stores, Distribution, Brands & Import).
All of APP’s management will remain with the company including the Chairman, Allan Pierce, who also becomes a shareholder in Lords Group Trading (LGT).
Pierce has over 50 years’ experience in the industry and will bring a huge amount of expertise to the enlarged Group.
APP will form the distribution arm for LGT, which currently consists of merchanting, manufacturing, and retail companies.
Following this acquisition LGT will employ 550 members of staff operating in 27 locations across the UK and a turnover in excess of £275 million.
Shanker Patel, CEO of LGT, commented: “APP is the perfect acquisition for our Group as we continue our expansion by adding another independent division to Lords Group Trading.
“We are pleased that our “Family Equity” model is supported by vendors like Allan, who can see the vision of what we are trying to create in a highly competitive and challenging sector.”
Allan Pierce, founder of APP Wholesale Ltd, remarked, "I am extremely proud of APP and of my exceptional team that I have built up over many years.
“The relationship of our suppliers and of our customers has been crucial to our success and I thank them all sincerely for their past and continued support".
The struture of the extended group will now look as follows: