Grant & Stone Group, the independent builders’ merchant in the Thames Valley and the South West, has announced its acquisition of Buildit Gloster Limited, continuing its strategy to expand through a combination of acquisition, new site development and organic growth.
Established in 2009, Buildit is an independent builders’ merchant headquartered in Gloucester.
The acquisition was initiated by Buildit’s owners’ succession planning.
Despite the challenges instigated by Covid-19, Grant & Stone has remained resilient with a clear focus of what it wants to achieve for the future. With the support of its strategic investment partner, Cairngorm Capital Partners, this acquisition advances the Group’s ambition for further growth and future partnerships.
Mat Miller, Managing Director of Grant & Stone’s Builders & Timber Merchants division, said: “We are delighted to welcome Buildit to the Group. Our shared values, vision and commitment to customers makes for an obvious partnership and a welcome addition to our Group. We are at a really exciting point in our development and this partnership strengthens our plans for growth.”
Grant & Stone was advised on this transaction by Grant Thornton (financial and tax) and Gowling (legal). Buildit was advised by Harrison Clark Rickerbys (legal) and Azets (finance).