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Tue June 28 2022

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Grant & Stone acquires RGB Building Supplies

1 Mar 21 Grant & Stone has made three more acquisitions to create what is said to be the largest independent builders’ merchant group in the south of England.

Rawle Gammon & Baker dates back to 1850
Rawle Gammon & Baker dates back to 1850

Builders’ merchant Grant & Stone Group has acquired Rawle Gammon & Baker Holdings, trading as RGB Building Supplies (RGB), as well as  smaller traders Buildit and Total Plumbing Supplies.

High Wycombe-based Grant & Stone has now made five acquisitions since it was bought out by private equity firm Cairngorm Capital Partners in November 2019. In September 2020, it bought Buckinghamshire-based 3Counties and in January 2021, it acquired CRS Building Supplies, a 12-branch builders’ merchant in Somerset.

With the latest three acquisitions, it now has 74 branches stretching from West London to Cornwall, with more than 1,000 employees and combined revenues approaching £250m.

RGB headquarters are in Barnstaple and it has 22 branches across Devon, Cornwall and Somerset. Founded in 1850, it offers trade and retail customers landscaping, plumbing & heating, heavyside and lightside, decorating and general building materials, as well as dedicated kitchen, bathroom and bedroom showrooms in many locations. RGB also operates a timber sawmill and engineered wood product business under the RTD brand. RGB employs more than 300 people and in the year to March 2020 made a pre-tax profit of £2.6m on revenues of £70m.

RGB chief executive Kevin Fenlon, previously co-owner of RGB, will continue to run the business, reporting to Grant & Stone group chief executive Nick House. He will also join the Grant & Stone Group board.

Gloucester-based Buildit, established in 2009, has three branches across Gloucestershire and Wiltshire. Directors Derek Meecham, Brenda Meechan and James Keyse will work with Mat Miller, managing director of Grant & Stone’s Builders & Timber Merchants division, to help integrate Buildit into Grant & Stone.

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Total Plumbing Supplies, trading since 2001, has five branches across Dorset, Wiltshire, Somerset and Devon. Founders Clive Handford and Ian Moses will continue to lead the TPS business, working with Matt Bland, managing director of Grant & Stone’s plumbing and heating division.

The purchase prices were not disclosed.

Grant & Stone group chief executive Nick House said: “It has been a tremendous experience to work with Cairngorm Capital over the last 15 months and to implement our growth strategy. Grant & Stone is at a really exciting point in its development and we are fortunate to benefit from strong investor support, exceptional products, first-rate employees and a well-deserved reputation for superior service. We welcome RGB’s CEO Kevin Fenlon to our group board and are excited about the opportunities that these acquisitions bring.”

Grant & Stone’s stated strategy has been to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth.

Cairngorm Capital also owns Scottish timber merchant Thornbridge, North Yorkshire Timber, Arnold Laver and door maker Cotswold Manufacturing.

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