Grant & Stone Group has acquired Rawle Gammon & Baker Holdings, trading as RGB Building Supplies (RGB), to become the largest independent builders’ merchant group in southern England.
It’s the latest in a series of deals for Grant & Stone this month, which had already seen the company snap up Total Plumbing Supplies and Buildit Gloster Limited (Buildit).
In a statement, the company said the acquisition, made with the backing of its strategic investment partner, Cairngorm Capital Partners, served to advance the Group’s ambition for further growth and future partnerships.
A strategy it plans to deliver through a combination of acquisitions, new site development and organic growth.
The enlarged group will now have 74 branches stretching from West London to Cornwall, with over 1,000 employees and combined revenues approaching £250m.
RGB, headquartered in Barnstaple, was founded in 1850 and serves customers across Devon, Cornwall and Somerset. It also operates a timber sawmill and engineered wood product business under the RTD brand.
RGB’s chief executive Kevin Fenlon will continue to run the business, reporting to Nick House, Grant & Stone’s group CEO.
Nick House, Grant & Stone’s Group Chief Executive said, “We are delighted to welcome RGB to the Group. Our shared values, vision and commitment to customers make this an obvious partnership and RGB, a welcome addition to our Group.
“Grant & Stone is at a really exciting point in its development, and we have ambitious plans to fulfil but we are fortunate to be able to benefit from strong investor support, exceptional products, first-rate employees and a well-deserved reputation for superior service. We are excited about the next phase of our development.”
Kevin Fenlon, chief executive of RGB said, “This partnership is exciting and will deliver great things. I am looking forward to joining the Board and working together with the Grant & Stone directors to advance the long-term strategy and future direction of the Group. We are completely aligned in our ambitions for the company and how we achieve them, as well as having a shared approach to product excellence and outstanding customer service.”
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