NEWSROUND
IBMG expands roofing division with acquisition
Cowal buys John Cameron
Independent builders merchant Cowal Building and Plumbing Supplies Ltd has bought John Cameron Plumbers and Builders Merchants Ltd.
The Independent Builders Merchant Group has acquired Independent Roofing Supplies, expanding its specialist roofing division in the South East.
Independent Roofing trades from three locations in Bexhill, Newhaven and Hove., bringing a highly complementary branch network and product range to IBMG’s roofing division. Culturally, both companies share a common vision, independent ethos and commitment to providing the highest standards of customer service. Directors John Wond and Andy Mansfield will continue with the business working with Danny Spokes, Managing Director for IBMG’s roofing division, to ensure IRS’s successful integration into the Group. IBMG has also acquired Wantage Builders Merchants operating from one location in Grove, Wantage. The company will join Grant & Stone and Brian Norris, branch manager will continue with the business working with Mat Miller, managing director for Grant & Stone Builders Merchants, to ensure Wantage’s successful integration. Miller, 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.”
6
Family-run Cowal’s acquisition of Cameron’s is its third major acquisition in five years, after Reddance Building Supplies in 2017 and Catherwood Construction Materials in 2021, along with the three Cowal depots in Dunoon, Rothesay and Balloch.
The trading name of John Cameron’s will be retained and the management team at the Cameron’s Kinning Parkway Industrial Estate site in Glasgow will remain with the business.
Both Cowal and Cameron’s are founding partners of the National Buying Group (NBG).
The acquisition gives Cowal six sites and more than 60 employees.
Stewart Shaw Jr, Director at Cowal Building and Plumbing Supplies Ltd, said: “We have competed against Cameron’s for many years and have always admired their way of doing business, the quality of their people and commitment to their customers. Our intention is to add a further two or three merchants to our group within the next few years. Our goal is to develop a self-sustaining business with strong management teams,
Lords posts record revenues
Builders merchant group Lords saw sales rise 26% for the year ended December 31 2021 to £363.3m, generating gross profits that, at £62.7m were 32.8% ahead of the previous year. Like-for-like revenue grew by 18.1% and was 20.8% ahead of 2019, following a swift rebound post pandemic. EBITDA was up 40.1% to £22.3m (FY20: £15.9 m restated). Pre-tax profit was £8m, up 122% from £3.6m in 2020.
The group declared its first dividend of 1.89 pence per share, reflecting its confidence in delivering consistent and growing shareholder returns. Digital revenue grew 31% in
whilst retaining the family values and closeness to our local communities that sets us apart.” John Cameron said: “The John Cameron business has been in existence for more than 100 years, built up by myself, my father and my grandfather. It is never an easy decision to sell, but it was made easier by the relationship we have with both Stewart and his brother Steven.”
FY21 and now represents 6.3% of Group revenue, while the four acquisitions since year end, enhance the Group’s geographical presence and offer scope for further growth through extended product ranges. The group expects supply chain issues to ease moving into the second half of 2022, with revenues continuing to trade largely in line with market expectations. Adjusted profit before tax is in line with expectations of approximately £16.0 million
CEMEX to operate fully on alternative fuels
CEMEX has announced the inauguration of its new Climafuel facility at its Rugby cement plant in the UK.
This is the first CEMEX plant to eliminate the usage of fossil fuels, operating 100% on alternative fuels. Climafuel is a waste derived fuel which is made using household residual and commercial waste that would otherwise go to landfills. By the end of 2022, CEMEX is expected to achieve a 40% reduction in carbon emissions in Europe. CEMEX is also well on the way to its target of a 55% reduction by 2030, a target aligned to the European Union’s decarbonisation
goal. With the investment at Rugby’s plant, CEMEX in Europe will process the equivalent annual residues of a city the size of Madrid or Berlin, and is expected to achieve 70% alternative fuel substitution in the region this year. Fernando A. Gonzalez, CEMEX’s CEO, said: “I am proud of CEMEX Europe’s continued leadership in our carbon action strategy. It serves as the model for the rest of our regions. I expect CEMEX to continue leading the way in our decarbonization journey.”
www.buildersmerchantsjournal.net June 2022
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
