Grant & Stone acquires 12-branch CRS Building Supplies18 January 2021
Grant & Stone has continued with its growth strategy by acquiring CRS Building Supplies, a 12-branch builders merchant chain covering Somerset.
The move marks further growth for investment company Cairngorm Capital Partners, which acquired Grant & Stone in 2019.
Established in 2005, CRS Building Supplies - headquartered in Wells - provides a broad range of heavyside building materials to trade and retail customers.
Grant & Stone said the partnership was highly complementary, creating scale and a geographic extension for both companies, as well as a strong platform for further growth.
The combined group will have 44 branches operating from London to the south west, over 500 employees and revenues in excess of £140m.
CRS founders Chris Waelchli and Richard Liddle will continue to lead the CRS businesses working with Peter Cudd, Grant & Stone’s chief commercial officer, to realise the growth opportunities that this partnership will deliver.
In a statement, Grant & Stone said it 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 provides a “strong platform for further growth” and future partnerships, which the company is keen to explore.
“Chris and I are proud of all that we have built to date but we recognise that as part of a larger group, the company will be able to achieve much more,” said Richard Liddle, director of CRS said.
“Partnering with Grant & Stone will facilitate this and we look forward to continuing this success story together.”