NEWSROUND
Stelrad buys DL Radiators
Radiator manufacturer Stelrad, has entered into an agreement with De Longhi Industrial S.A to acquire 100% of the share capital of Italian radiator manufacturer DL Radiators srl for €28.346 million on a debt free, cash free basis. DL Radiators’ main
manufacturing site is located in Moimacco, near Udine, Italy and it employs approximately 350 people. The product range includes steel panel, multicolumn steel, aluminium and towel warmer radiators, providing customers with flexible heat emitter solutions suitable for a wide variety of installations.
The acquisition extends the range of radiators available to Stelrad’s existing sales and distribution network, expands its routes to market, provides a complementary brand and increases manufacturing capacity.
EH Smith
acquires Builders Supply Stores Ltd
In their 100th year of trading, EH Smith has acquired Coventry-based Builders Supply Stores Ltd.
Privately-owned family run merchant EH Smith currently employs around 450 staff. Founded in Birmingham in 1922, EH Smith have always had strong roots in the area including 10 of its 13 trading locations and Head Office still situated in the East and West Midlands.
Similar to EH Smith, Builders Supply Stores are a family run builders’ merchant. They have been trading in Coventry since 1931 and are run by the third generation of the Ballinger family. Builders Supply Stores employ 28 staff over their two sites in Spon End and Aintree Close in Coventry.
4 Building Supplies Online ceases trading
David Shambrook and Sarah Cook of FRP Advisory were appointed as Joint Administrators to Building Supplies Online Limited on Monday 20 June 2022. Building Supplies Online was an online supplier of building materials to trade and public. The business, which employed 13 staff at its headquarters in Banbury, experienced stock availability issues and constraints on cashflow in recent months.
Despite efforts to sell the business and secure fresh investment, a viable deal could
not be secured and the business had no choice but to appoint Administrators. On appointment, Building Supplies Online ceased trading and all staff were made redundant.
The Joint Administrators will now progress with the orderly winding up of the business and its operations and move towards an asset sale.
David Shambrook, partner at FRP Advisory and Joint Administrator, said: “Retail businesses are battling difficult economic conditions with
inflation and supply chain issues putting real pressure on their ability to operate.
“Without the prospect of investment, Building Supplies Online was unable to continue trading and, regrettably, all employees have been made redundant. We will now be supporting employees with claims to the redundancy payments service while seeking to maximise returns to creditors.”
Any enquiries hould be directed to: buildingsuppliesonline@
frpadvisory.com
IBMG acquires Wantage Builders Merchants
Wantage is a local, independent builders merchant operating from one location in Grove, Wantage, and offers a mix of heavy and lightside building materials to trade and retail customers. The latest acquisition continues IBMG’s strategy of developing its divisions through a combination of acquisition, new site development and organic growth. Strategically it will extend the IBMG’s builder’s merchant offering, providing a strong platform for further growth. Culturally, both companies are highly aligned, sharing a common
vision, independent ethos and commitment to providing the highest standards of customer service.
This partnership resolves future succession for Wantage and secures the right custodian for the business – one with a shared vision and values. Wantage will join Grant & Stone and Brian Norris, Wantage’s branch manager will continue with the
Hughes Forest welcomes Shadow Environment Minister
Builders Merchant Hughes Forrest hosted its local MP, Ruth Jones, as part of the BMF’s industry and Parliament programme. The focus of the visit was how the building materials’ supply chain is evolving to support environmental responsibility in construction, and how they are responding to the net zero carbon challenge. The MP for Newport West visited Hughes Forrest, a 90-year old business based in the town, to
see how it helps constituents to improve the thermal and energy performance of homes and workplaces.
Jones MP, who is the Labour Party’s Shadow Minister for Agri-Innovation and Climate Adaptation, was welcomed by Richard Brian and Nick Bulpin, joint managing directors. Touring the branch, Jones was shown examples of the sustainable materials and products available
to Hughes Forrest customers in its six South Wales branches. She also heard how merchants are managing in the face of higher raw material, energy, labour and transport costs and the impact on local SME customers.
www.buildersmerchantsjournal.net July 2022
business working with Mat Miller, managing director for Grant & Stone Builders Merchants, to ensure Wantage’s successful integration into the Group. Mat Miller, managing director of Grant & Stone’s Builders Merchant’s said, “We are delighted to welcome Wantage Builders Merchants to the group. We have much in common, so this is a strong and logical partnership. Our continued goal is to be the independent merchant of choice as the best provider for our customers’ builders merchant needs.”
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