Grant & Stone acquires Buildit, accelerating its growth strategy
High Wycombe, 1 March 2021: Grant & Stone Group, the leading independent builders' merchant in the Thames Valley and the South West, is pleased to announce its acquisition of Buildit Gloster Limited (Buildit), continuing its strategy to expand through a combination of acquisition, new site development and organic growth.
Established in 2009, Buildit is an independent builders’ merchant with a reputation for outstanding customer service. Headquartered in Gloucester, its three branches provide a broad range of building materials to trade and retail customers across Gloucestershire and Wiltshire. The acquisition was initiated by Buildit’s owners’ succession planning.
This transaction is highly complementary as both companies share common values, vision and a commitment to the highest standards of customer service. In addition, Buildit’s branch network strengthens Grant & Stone’s geographic expansion complementing the Group’s recent acquisition of CRS in Somerset. Buildit’s management: Derek Meecham, Managing Director, Brenda Meechan, Finance Director and James Keyse, Operations Director, will work with Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, to support Buildit’s successful integration into the Grant & Stone Group.
Despite the challenges instigated by Covid-19, Grant & Stone has remained resilient with a clear focus of what it wants to achieve for the future. With the support of its strategic investment partner, Cairngorm Capital Partners, this acquisition advances the Group’s ambition for further growth and future partnerships.
Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, said, “We are delighted to welcome Buildit to the Group. Our shared values, vision and commitment to customers makes for an obvious partnership and a welcome addition to our Group. We are at a really exciting point in our development and this partnership strengthens our plans for growth.”
Derek Meecham, Managing Director of Buildit said, “The Directors are proud of all that we have achieved to date but we recognise that this is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. We are looking forward to facilitating a successful handover of the business to Grant & Stone and are confident that under its stewardship, Buildit will go from strength to strength.”
Grant & Stone was advised on this transaction by Grant Thornton (financial and tax) and Gowling (legal). Buildit was advised by Harrison Clark Rickerbys (legal) and Azets (finance).