Independent merchant Rudridge has been sold to the Travis Perkins Group.
Rudridge first began trading in May 2000, as a specialist merchant servicing London and the south east of England. The sale to Travis Perkins Group was approved by the Rudridge board on 4 February, 2015.
Directors Alan Betteridge and Robert Rudd said the sale would enable the business to access new resources while maintaining its own identity. Mr Betteridge and Mr Rudd will continue to manage the company.
Mr Betteridge said: "The professionalism, integrity, respect for the Rudridge brand and, perhaps most importantly, the people we met at Travis Perkins, left us in absolutely no doubt that they were the right organisation to take the business to the next level. Becoming part of the Travis Perkins family means that we will be able to access many of their resources, while Rudridge maintains its own identity, still under the management of myself and Robert. Our ethos remains unchanged: delivering a first-class service to our customers and providing our employees with a happy and enjoyable environment to work in."
Mr Rudd added: "We are excited to make this announcement, it is a huge opportunity for us to accelerate the growth of our existing Rudridge branches. Travis Perkins will not only provide the platform for us to continue the development of Rudridge, they also respect our unique trading style and have emphasised that they want this to continue. Alan and I always wanted to align ourselves with a new owner that thinks long term, and vitally does what is in the best interest of our staff and customers."
Mr Frank Elkins, divisional CEO Travis Perkins, Contract Merchanting Division, concluded: "Alan and Robert have built a great business with specialist knowledge in the civils and drainage market, and a strong ethos for service which fits with our own. We are delighted to welcome Rudridge to the Group and look forward to working with them to develop the business."