The joinery operations of two of the largest UK construction groups, Sir Robert McAlpine & Son Ltd and Morgan Sindall plc (Bluestone Construction) have been bought by Koed Joinery in separate deals.
The purchases, for undisclosed sums, are part of the North Wales-based joinery firm’s strategy to expand bespoke operations and achieve national coverage.
Gee Joinery Ltd was Sir Robert McAlpine’s joinery operation at Heanor, Derbyshire, and has an annual turnover of more than £5m a year. Wheatley, sold by Morgan Sindall, is based at Kirkby in Ashfield, Nottinghamshire, and has a turnover of about £2.5m.
Koed Joinery now has four sites and says it has good coverage of Wales, the south and the Midlands. It is looking to increase its presence in the North.
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“We are now well placed to supply and fix most aspects of bespoke joinery nationally.” |
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John Jones, chief executive Koed Joinery |
John Jones, chief executive, said: ‘High on our list of acquisition criteria were businesses whose technical skill and time served experience are well established. Both Gee Joinery and Wheatley Joinery meet these criteria. We are now well placed to supply and fix most aspects of bespoke joinery nationally.’
Meanwhile, David Nicholds, director of SKG Equity Partners which handled the sales for Sir Robert McAlpine and Morgan Sindall, said it was a ‘sign of the times’ that both builders had decided to sell their joinery operations.
He said: ‘The most profitable joiners are increasingly specialists, focused on particular market niches . It makes sense for a dedicated joinery group like Koed to take these businesses on.’
