Grant & Stone Group, the independent builders’ merchant in the Thames Valley and the South West, has announced its acquisition of Total Plumbing Supplies Limited (TPS), advancing its strategy to expand through a combination of acquisition, new site development and organic growth.
Established in 2001, TPS is an independent plumbers’ and heating merchant supplying trade and retail customers across Dorset, Wiltshire, Somerset and Devon. Headquartered in Honiton, Devon, TPS has five branches each offering a broad range of plumbing and heating supplies, as well as dedicated kitchen and bathroom showrooms. The acquisition was initiated by TPS’ owners’ succession planning.
Founders, Clive Handford and Ian Moses will continue to lead the TPS business, working with Matt Bland, Managing Director of Grant & Stone’s plumbing and heating division, to support its successful integration into the Grant & Stone Group.
Matt Bland, Managing Director of Grant & Stone’s heating and plumbing division, said: “We are delighted to welcome TPS to the Grant & Stone Group. We have much in common, making this a compelling 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.”
Ian Moses, co-founder of TPS said: “Clive and I are proud of all that we have achieved to date but we recognise that as part of a larger group, the company will be able to achieve much more. Partnering with Grant & Stone will facilitate this and we look forward to continuing this success story together.”
Grant & Stone was advised on this transaction by Grant Thornton (financial and tax) and Gowling (legal. TPS was advised by Bishop Fleming (corporate finance) and Squire Biggs (legal).