Independent builders merchant, Grant & Stone Group, has acquired Exeter-based Devondale Electrical Distributors.
The company said the move will expand its network of specialist electrical wholesalers and complement its recent acquisitions of builders’ and plumbers’ merchants in the South West of England.
Established in 1981, Devondale is one of the largest independent electrical wholesalers in the South West. Operating from nine branches across Somerset and Devon, it provides an extensive range of electrical and ancillary products to electricians, electrical contractors and facilities managers.
Devondale achieved revenues of £10m in 2020.
Grant & Stone said its stated strategy has been to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth.
Devondale’s highly complementary branch network and product range supports this, providing geographic expansion, product extension and a strong platform for further growth.
Paul Wood, Devondale’s owner and Managing Director will continue to lead the business, working with Darren House, Managing Director of Grant & Stone’s electrical division.
Darren House, Managing Director of Grant & Stone’s electrical division said: “We are delighted to welcome Devondale to the Group. We have much in common so this is a strong and logical partnership. Our company is at a really exciting point in its development and this partnership ensures that we are well positioned to progress the numerous growth opportunities available to us.”
Paul Wood, Managing Director of Devondale said: “I and the team are proud of all that we have built to date but we recognise that our company will be able to achieve much more as part of a larger group. Partnering with Grant & Stone will facilitate this growth and we look forward to continuing this success story together.”
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