The UK’s largest independent builders’ merchant MKM Building Supplies has extended its funding facilities with Lloyds Bank to fuel its growth strategy.
The Hull company, which employs 670 people, provides a wide range of building, timber and plumbing products predominantly to independent tradesmen and the public.
The firm holds a comprehensive range of stock at each of its 39 sites in England and Scotland to ensure strong product availability, and operates free delivery services for its customers.
The financing agreement will extend the company’s existing debt facilities and provide a renewed capital structure, tailored to the group’s continued growth strategy.
David Kilburn, executive chairman at MKM, said: “We have developed a strong market leading position through a combination of strategic branch openings and keeping our customers at the heart of our operations.
“This latest deal provides us with an even stronger financial footing from which to continue to target new sites, improve the breadth of our product offering, and enhance our services to the trade and the public.”
Gary Styles, director at Lloyds Bank Wholesale Banking & Markets Acquisition Finance, led the deal. He said: “Compared to the house building sector, spend on essential and small building works has held up relatively well during the downturn. Operating largely in the repair, maintain and improve sub-sector, MKM’s business model has shown good degrees of resilience in recent years.
“The company’s experienced management team has developed a recognised, high quality builders’ merchant, which is well placed to continue to realise its growth potential with the backing of 3i and LDC. We are pleased to also play our part in this success story.”