The expanded IBMG will now boast revenues of over £500m and employ over 1,700 staff.
The latest deal comes after a spate of major merger and acquisition activity in the construction distribution sector.
The expanded group now covers Cornwall to Kent and comprises builders’ merchants, electrical wholesalers, plumbers’ merchants, kitchen and bathroom showrooms, roofing merchants, a timber processing site, and a dedicated ecommerce business.
With the support and investment from their strategic partner, Cairngorm Capital, both businesses have scaled-up in recent years.
IBMG has grown from 15 branches and revenues of £67m just over three years ago to 39 branches and revenues of over £200m.
In parallel, Grant & Stone has grown from 29 branches in the Thames Valley and revenues of £100m two years ago to 84 branches between London and Cornwall, and revenues in excess of £300m.
The merger creates the largest independent builders’ merchant group in southern England.
At a group level, the new combined company will be known as Independent Builders Merchant Group although existing trading names and brands will continue to be used for all customer-facing activity.
IBMG’s 12 brands
Buildit, Chandlers Building Supplies, Chandlers Roofing, CRS Building Supplies, Devondale Electrical, Fairalls Builders Merchants, Grant & Stone, Parkers Building Supplies, RGB Building Supplies, Stamco Timber, Total Plumbing Supplies, and Trading Depot.
Nick House, Group Chief Executive of Grant & Stone, will lead the new combined IBMG business, with Peter Cudd (Group Managing Director).
Nick House, group chief executive of IBMG, said: “This merger is the natural progression for both companies. Our branch networks and product ranges are highly complementary and our values, vision and commitment to customers are completely aligned, which creates exciting opportunities for us all.”
