Huws Gray continues acquisition trail13 September 2021
The acquisition trail of Wales-based builders merchant Huws Gray continues with two-branch TBS Building Supplies being the latest acquisition.
The move follows the mammoth announcement in July that Huws Gray had agreed to acquire the traditional merchant business of Grafton Group plc – including Buildbase and The Timber Group (Beaumont / Brewer / L&G) for £520m.
TBS was established in 1978 and has branches in Towcester and Daventry. Huws Gray said the acquisition of TBS marked the company’s commitment to grow its reach in Northamptonshire and beyond.
The takeover of Grafton Group’s traditional merchanting business in Great Britain – funded by Huws Gray’s investment company backer Blackstone – is expected to be completed in Q1, 2022.
The deal also includes Civils & Lintels, PDM Buildbase, Bathroom Distribution Group, Frontline and NDI brands.
The decision for Grafton to divest followed a comprehensive strategic review of the business which concluded that exiting this segment of the building materials distribution market in Great Britain would enable the Group to optimise shareholder value.