Acquisitive Buckinghamshire-based builders merchant group Grant & Stone has bought BuildIt Gloster Limited as part of its strategy to expand through a combination of acquisition, new site development and organic growth.
Established in 2009, with its headquarters in Gloucester, the three BuildIt branches provide a broad range of building materials to trade and retail customers across Gloucestershire and Wiltshire.
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 the company’s successful integration.
Meecham 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.”
Miller 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.”
The acquisition, facilitated by the backing of Grant & Stone’s strategic investment partner equity firm Cairngorm Capital, was initiated by Buildit’s owners’ succession planning.