TRAILBLAZERS John Nicholls
In June 2023, family-owned and run building and plumbers merchant John Nicholls went through a management buy-out process, having sold the business to MKM Building Supplies. In effect, John Nicholls sold its five building material branches Banbury Building, Kitchen and Bathroom Showroom, Bicester Building and Plumbing & Heating and the Kitchen and Bathroom Showroom, Kidlington Building, Rugby Building and Plumbing & Heating, as well as the distribution centre at Long Hanborough to MKM.
This then allowed John Nicholls to go back to its roots, re-inventing itself as a plumbing and heating merchant, focussing on its growing bathroom showroom business. Founded in 1965 by late chairman John Nicholls, the group grew significantly over the years from one branch in Banbury to 28 sites covering Oxfordshire, Warwickshire, Northamptonshire, and Dorset.
With the MBO, the company now operates from 15 branches, which include those under the J&BS brand.
The John Nicholls locations are: Banbury Plumbing & Heating with Bathroom Solutions Showroom, Buckingham Plumbing & Heating, Kidlington Plumbing & Heating with Bathroom Solutions Showroom, Shipston Plumbing &
J T Atkinson
J T ATKINSON THE NUMBERS
2020 Turnover £m Gross profit £m
Operating profit £k Net profit £k
THE RATIOS 2020
Stockturn 5.6 Gross margin %
Operating margin % Net margin %
Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX
31.4 9.9 9.5
226
22,292 93.7
2021 4.9
31.3 10.3 10.3 264
27,253 87.0
2022 4.0
29.7 5.9 5.3
245
14,556 73.7 91
98.9 31.1
9,764 9,403
2021
124.4 38.9
12,836 12,801
Staff 438 471 2022
129.1 38.4 7,671 6,810 527
J T ATKINSON
% CHANGE 2021 26 25 31
36 8
% CHANGE 2021 (13) (0) 4 8
17
22 (7)
2022 4
(1)
(40) (47) 12
2022 (17) (5)
(42) (49) (7)
(47) (15)
Thornton House, Cargo Fleet Lane Tel: 01642222444
http://www.jtatkinson.co.uk
Branches: 39 Showrooms: 8
Branches Added/Closed in 2023: 2 Employees: 528
Chairman: Edwin Atkinson Managing Director: Jamie Atkinson Other Directors: Chris Gilbertson, Paul McGill, Adrian Gordon, Mark Atkinson, Mike Stalley
Turnover for 2023: £135m
Member of: BMF, NMBS, Buying Group: Fortis
JT Atkinson is a family owned independent Builders’ merchant with over 160 years’ experience in the supply of building materials. In 1860, James Atkinson left the family watermill at Little Salkeld, near Penrith, to establish a roofing business in Darlington. The business developed into a slate merchant and then into a builders merchant in the early 1900’s. With a support centre and 39 branches located in Tyne and Wear, Durham, Teesside, North Yorkshire, West Yorkshire and Cumbria, the company is able to supply materials to customers across the North of England.
April 2024 A supplement to builders merchants journal 27 JOHN NICHOLLS
Unit 11 Somerville Court, Banbury Business Park, Banbury,
Oxon, OX17 3SN
www.johnnichollstrade.co.uk
Branches: 15 Showrooms: 5 Employees: 135
Executive Chairman: Andrew: Nicholls Managing Director: Adam England Commercial Director: Sam Hall Operation Director: Dave Simms Finance Director: Mark Walton Sales Director J&BS: Graham Bell Operations Director J&BS: Jason Dark
Turnover for 2023 (Pre MBO): £70.02m YTD Turnover 2024, post MBO: £41m
Member of: BMF, NMBS, Buying Group: PHG
Heating with Bathroom Solutions Showroom, Towcester Plumbing & Heating, Witney Plumbing & Heating with Bathroom Solutions Showroom, John Nicholls Luxury Kitchen & Bathroom Showroom. Operating as J&BS are: Blandford Plumbing & Heating with Bathroom Solutions Showroom, Branksome Plumbing & Heating with Bathroom Solutions Showroom, Christchurch Plumbing & Heating, New Milton Plumbing & Heating with Bathroom Solutions Showroom
Ringwood Plumbing & Heating with Bathroom Solutions Showroom, Upton Plumbing & Heating, Weymouth Plumbing & Heating with Bathroom Solutions
JOHN NICHOLLS THE NUMBERS
20/21 Turnover £m Gross profit £m
Operating profit £k Net profit £k
THE RATIOS 20/21
Stockturn 6.1 Gross margin %
Operating margin % Net margin %
Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX
28.2 4.1 4.2
260
10,636 21.8
21/22 5.6
28.1 5.7 5.6
305
17,240 27.2
22/23 5.3
28.5 3.3 3.3
303
10,048 14.8 70
58.6 16.5
2,393 2,453
Employees 225 21/22
67.4 18.9
3,810 3,805 221
22/23
70.0 20.0 2,321 2,299 231
% CHANGE 21/22 15 15
59 55 (2)
% CHANGE 21/22 (7) (0) 38 35 17
62 24
22/23 4 6
(39) (40) 5
22/23 (6) 1
(41) (42) (1)
(42) (46)
Financial history over the past three years of John Nicholls, pre MBO and sale of branches to MKM.
Showroom, Wimborne Plumbing & Heating with Bathroom Solutions Showroom
There is a Central Support Office for both John Nicholls and J&BS businesses in Adderbury near Banbury.
The company is forecasting total turnover across both brands to be in excess of £40m for the full year 2024, roughly split 50/50 between Nicholls and J&BS businesses.
At the time of the MBO, executive chairman Andrew Nicholls said that the decision to sell but also to go through the MBO, was down to wanting to keep the legacy of the Nicholls
name and business going. “I wanted to carry the business forward. And I knew that we had a really strong team here who were also committed to continuing with the business.” J&BS, a three-branch operation when Nicholls acquired them, is very much part of the plans for the Nicholls group moving forward. The J&Bs arm now comprises branches in Blandford, Branksome, Moordown, New Milton, Ringwood, Weymouth, Wimborne Upton and Christchurch. All, apart from Upton, Moordown and Christchurch, feature Bathroom Solutions showrooms.
JOHN NICHOLLS • JT ATKINSON BUILDERS MERCHANTS: A-Z
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