Azets, a regional accountancy and business advisor to SMEs, has announced its Midlands Corporate Finance team has advised the owners of independent builders merchant Buildit Gloster Limited on its sale to Cairngorm Capital-backed builders merchant group Grant & Stone Limited.
The deal brings the total number advised upon by Azets’ Midlands team to nine in just ten weeks.
Buildit is an independent builders merchant that provides an extensive range of branded building materials and products to the trade and DIY customer for domestic and commercial building projects.
The company was founded in 2009 with the aim of creating a customer experience that provides excellent service, an experienced and high calibre workforce, and a broad range of branded products at competitive prices.
Buildit services customers in Gloucestershire and the Wiltshire borders from three branches located in Gloucester, Cam and Malmesbury.
Derek Meecham, Managing Director of Buildit, said: “Grant & Stone has an impressive reputation in the industry and is well-known for its commitment to the local building trade. Our team is excited at the prospect of becoming part of Grant & Stone’s dynamic growth by extending coverage into the Gloucestershire and Wiltshire area. We will continue to offer the high levels of customer service that has enabled our success as a business over the last twelve years and we look forward to continuing our journey with our new partner.”
Martin Poole, Corporate Finance Partner at Azets, added: “We were delighted to assist the shareholders of Buildit with the sale of their business. Their level of commitment to the transaction was outstanding, particularly given the short timescale to completion. The shareholders have built a fantastic business, with market-leading margins, and I wish them all the very best for the future.”