The Independent Builders Merchant Group (IBMG), set up by Cairngorm Capital Partners, has taken over Sussex Plumbing Supplies Limited (SPS).
SPS was established in 2000 in Polegate, East Sussex, and has seven trade counters and four showrooms.
SPS鈥� owner and managing director Glenn Vinall will continue to lead the business, reporting to Matt Bland, managing director of IBMG鈥檚 plumbing and heating division
Glenn Vinall said: 鈥淭he team and I are proud of all that we have built to date but we recognise that our company will be able to achieve much more as part of a larger group. Partnering with IBMG will facilitate this growth and we look forward to continuing this success story together.鈥�
IBMG has been built up through the acquisition of Parker Building Supplies by Cairngorm Capital in March 2018, followed by the bolt-on acquisitions of Stamco and Fairalls and merger with Chandlers Building Supplies in 2019. Backed by Cairngorm, the original Parker business has grown from 15 branches and revenues of 拢67m, to 39 branches and revenues of more than 拢200m.
Separately, Cairngorm bought High Wycombe-based Grant & Stone in November 2019 and since added to it 3Counties in Buckinghamshire, CRS Building Supplies, Rawle Gammon & Baker (RGB), Buildit and Total Plumbing Supplies. In less than two years Grant & Stone has grown from 29 branches and revenues of 拢100m to 84 branches, generating 拢300m revenues.
In September 2020 Cairngorm merged Grant & Stone into IBMG to make them a single company
Got a story? Email news@theconstructionindex.co.uk
