NEWSROUND Huws Gray adds Higgins
Acquisitive builders merchant group Huws Gray has bought independent Higgins Building Supplies Ltd based in Wellingborough & Irthlingborough, Northamptonshire.
Grant & Stone takes charge at Devondale
Grant & Stone Group has bought Devondale Electrical Distributors (Devondale), expanding its network of specialist electrical wholesalers. Devondale is the largest independent electrical wholesaler in the South West, operating from nine branches across Somerset and Devon and based in Marsh Barton, Exeter. In 2020 it achieved revenues of £10m.
Grant & Stone’s 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, to realise the growth opportunities that this partnership will deliver.
House 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.”
Wood added:“I and the team are proud of all that we have built to date but we recognise that we 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 together.”
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The family-owned builders’ merchant, which now operates from a 4.5-acre site and landscaping centre in Wellingbrorough plus a third site in Irthlingborough, was established in 1866 by Thomas Henry Higgins, and has been under the stewardship of five successive generations of the Higgins family. Matthew Owen, head of acquisitions for the Huws Gray Group, said: “This latest acquisition of a well-known and highly respected company in the industry is a perfect fit for us to strengthen and expand our branch network. We’re not just buying a business; we’re buying over 150 years of history and we are looking forward to working alongside the existing teams and learning from their industry leading landscaping offer.” Higgins’ current managing director Nigel Higgins, said: “We owe our longstanding success to a combination of factors. This includes a belief in offering a wide range of high-quality, competitively priced products backed by the highest levels of service and
Illingworth Ingham buys Waterloo Timber
North west timber specialist Illingworth Ingham has bought Waterloo Timber, a Clitheroe timber merchant with mill and machining facilities.
friendly, expert advice. A culture we know is shared by the Huws Gray Group and we are sure that we are leaving our loyal staff and customers in good hands.” l Huws Gray has also invested in a 40,000 sq. ft timber engineering production site. The new facility, based in Bangor, is in addition to the existing Timber Engineering plant in Welshpool and will more than double the company’s operational capacity, creating local employment with production and design opportunities.
Osian Jones, Area Manager for Huws Gray Timber Engineering said: “We are very optimistic about the expansion of this division of the business. We are confident that we can service any customers Timber engineering requirements, by offering a complete solution that is fully managed in-house.”
Travis Perkins sells P&H division Builders merchants group
Travis Perkins has sold its plumbing & heating division, which includes PTS Plumbing Trade Supplies and City Plumbing Supplies to H.I.G Capital.
The sale follows the
demerger of Wickes last month and the sale of plumbing & heating wholesaler Primaflow F & P in January 2020. In the year ended 31 December 2020, P&H generated revenue of £1,041m, adjusted operating profit of £17.9 m* and a loss before tax of £1.7m. Gross
assets at 31 December 2020 were £580 m. Nick Roberts, Travis Perkins Chief Executive, said: “Today marks another important step on our journey to becoming a simplified Group, focused on our market leading trade businesses. A significant amount of work has gone into improving the P&H business over the last few years; I am sure that the business will continue to make excellent progress under the ownership of H.I.G. “I would like to thank colleagues in the P&H business
for their commitment and hard work whilst part of the Travis Perkins Group, particularly during what has been an extremely challenging year. I wish them all the best for the future. “We have now executed the actions to simplify our portfolio and the strength of the balance sheet enables us to return the net proceeds to shareholders.”
www.buildersmerchantsjournal.net June 2021
Illingworth Ingham, a member of the h&B independent buying group, was founded over 90 years ago in Manchester and operates from a seven-acre site in Trafford Park Manchester plus depots in Stockport, Hyde, Stretford and two branches in Macclesfield. It includes 150,000 square feet of warehousing, and machining, treatment and finishing facilities for a wide range of hardwood and softwood timbers.
Waterloo Timber is well- established with tradesmen in its local community and with a strong reputation as the go-to location in the town for all things timber. It will retain its own branding within the Illingworth Ingham family.
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