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BUILDERS MERCHANTS: A-Z


• GRANT & STONE GROUP INC CRS • RGB


TRAILBLAZERS GRANT & STONE GROUP


Established in 1987, Grant & Stone was acquired by venture capital concern Cairngorm Capital in November 2019. It had three specialist building, plumbing and electrical divisions, giving it 29 branches across the Thames Valley, consisting of builders’ merchants, electrical wholesalers, plumbers’ merchants, timber merchants, as well as eight kitchen and bathroom showrooms. There is also an ecommerce subsidiary, Trading Depot.


GRANT & STONE YR END 31/03 THE NUMBERS


Turnover £m Gross profit £m


Operating profit £k Net profit £k Staff


THE RATIOS Stockturn Gross margin %


Operating margin % Net margin %


Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX


CRS YR END 31/12 THE NUMBERS


Turnover £m Gross profit £m


Operating profit £k Net profit £k Staff


THE RATIOS Stockturn Gross margin %


Operating margin % Net margin %


Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX


RGB YR END 31/03 THE NUMBERS


Turnover £m Gross profit £m


Operating profit £k Net profit £k Staff


THE RATIOS Stockturn Gross margin %


Operating margin % Net margin %


Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX


26


17/18 7.7


31.9 5.5 5.0


205


11,258 22.1


18/19 7.2


31.1 4.2 3.8


205


8,698 14.9


19/20 7.1


31.8 4.0 3.7


197


7,950 12.8 (68)


17/18 68.4 21.8


3,749 3,386 333


18/19 72.5 22.6


3,079 2,752 354


19/20 70.7 22.5


2,854 2,611 359


2017 13.4 26.7 5.5 5.4


296


16,313 44.8


2018 11.6 27.9 5.0 4.9


282


14,000 38.4


2019 10.2 28.1 3.3 3.2


261


8,618 24.8 523


2017 23.7 6.3


1,305 1,280 80


2018 30.7 8.6


1,526 1,492 109


2019 35.5 10.0


1,172 1,127 136


17/18 5.0


32.8 8.9 8.9


261


23,174 38.8


18/19 5.5


30.2 6.5 6.5


262


16,960 30.4 695


19/20 6.8


30.4 3.0 3.0


261


7,785 13.2 31


(8)


(27) (27) 0


(27) (21)


17/18 72.2 23.6


6,396 6,404 276


18/19 86.3 26.1


5,580 5,582 329


19/20 87.6 26.6


2,608 2,608 335


% CHANGE


18/19 20 10


(13) (13) 19


18/19 9


19/20 2 2


(53) (53) 2


% change


19/20 23 0


(54) (54) (0)


(54) (57)


Since then, it has, with the backing of Cairngorm Capital acquired 3Counties Timber & Building Supplies Limited, with branches in Aylesbury and Hemel Hempstead. 3Counties’ managing director Richard Dawson joined Grant & Stone, working with Mat Miller, managing director of Grant & Stone’s Builders & Timber Merchants division on the integration.


% CHANGE


2018 30 35 17 17 36


2018 (13) 4


(10) (10) (5)


(14) (14)


2019 15 16


(23) (24) 25


% CHANGE


2019 (12) 1


(33) (35) (7)


(38) (36)


In January 2021 Grant & Stone Limited, branched further out of its Home Counties heartland and bought independent builders merchant CRS Building Supplies Limited, based in Wells, Somerset. Established in 2005, CRS Building Supplies sells heavyside building materials to trade and retail customers from 12 branches across Somerset.


% CHANGE


18/19 6 4


(18) (19) 6


18/19 (6) (2)


(23) (23) (0)


(23) (33)


19/20 (2) (0) (7) (5) 1


% CHANGE


19/20 (2) 2


(5) (3) (4) (9)


(14)


CRS founders Chris Waelchli and Richard Liddle will continue to lead the CRS businesses working with Peter Cudd, Grant & Stone’s chief commercial officer. Then, on March 1, the company announced it had continued its march across the south west with the purchase of BuildIt Gloster, Total Plumbing Supplies and RGB. The group will now have 74 branches stretching from West London to Cornwall, over 1,000 employees and combined revenues approaching £250m. Grant & Stone aims to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth. RGB Building Supplies, brings the group 22 branches serving customers across Somerset, Devon and Cornwall., Buildit Gloster Limited, adds three branches in Gloucestershire and Wiltshire and Total Plumbing Supplies Limited, adds five


plumbers’ merchant branches. The businesses will continue to run as separate brands, under the umbrella of the Grant & Stone Group. RGB’s chief executive, Kevin Fenlon, is joining the Grant & Stone Group board.


RGB was founded in 1850, and is one of the leading independent builders merchants in the South West, stretching across Devon, Cornwall and Somerset. Headquartered in Barnstable, its 22 branches offer landscaping, plumbing and heating, heavyside and lightside, decorating and general building materials, as well as dedicated kitchen, bathroom and bedroom showrooms in many locations. RGB also operates a timber sawmill and engineered wood product business under the RTD brand. RGB employs over 300 people and in 2020, achieved revenues of £70 million.


GRANT & STONE GROUP Unit 2


Mill End Road High Wycombe HP12 4AX https://www.grantandstone.co.uk/ Tel: 01494 430348


Subsidiaries: Trading Depot, CRS Building Supplies, RGB Building Supplies, Buildit, Total Plumbing Supplies Branches: 74 Employees: 1000+ Number of showrooms: 18 – some are co-located within branches some are standalone


Approx 2020 turnover: combined Group revenues approaching £250m


Directors: Nick House, Peter Cudd, Kevin Fenlon, Richard Robinson


Executive Team: Matt Miller, Matt Bland, Darren House, Kelly Bolt, Richard Liddle, Chris Waelchli


% Heavyside/lightside/timber sales: 70% / 40% / 10%


Members of: BMF NBG, AWEBB for electricals


A supplement to Builders Merchants Journal April 2021


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