London and Edinburgh, 4 May 2022
Cairngorm Capital Partners is pleased to announce that its portfolio company, Independent Builders Merchant Group (IBMG) has acquired Merkko Builders Merchants Ltd (Merkko), extending its network of branches in Oxfordshire and Berkshire.
Merkko is a highly successful independent heavyside builders’ merchant supplying trade and retail customers across Oxfordshire and Berkshire. Headquartered in Abingdon, it has two branches in Kingston Bagpuize, Abingdon and Aldermaston, both stocking a comprehensive range of construction materials for building and civil engineering projects. Merkko has demonstrated strong organic growth since its formation.
This acquisition continues IBMG’s strategy of developing its divisions through a combination of acquisition, new site development and organic growth. Strategically it extends IBMG’s builder’s merchant offering geographically and provides a strong platform for further growth. Culturally, both companies are highly aligned, sharing a common vision, independent ethos and commitment to providing the highest standards of customer service.
The partnership with IBMG resolves future succession questions for Merkko, securing the right custodian for their businesses – one with a shared vision and values. Merkko will join IBMG’s builders’ merchants division, led by Mat Miller, Managing Director of Grant & Stone Builders Merchants. Ian Duckitt, Managing Director of Merkko, will continue to lead the business, working with Mat to grow Grant & Stone’s presence in Berkshire and Oxfordshire.
Mat Miller, Managing Director of Grant & Stone Builders Merchants, said, “We are delighted to welcome Merkko to our group, particularly as it allows us to now offer our customers in-depth knowledge and expertise for any civils projects, Our ongoing goal is to be the independent merchant of choice, as the best provider for our customers’ builders merchant needs. This acquisition supports our programme of branch expansion and strengthens IBMG’s position as the largest independent merchant in the South of England.”
Ian Duckitt, Managing Director of Merkko Builders Merchants said, “I am confident that this acquisition will provide an excellent home for both our customers and our people who will thrive within a highly respected, independent builders merchant focused on excellent customer service. I look forward to working Mat to ensure our successful integration into the Group.”
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Notes for editors
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading companies. It invests in strongly-performing, private mid-market growth companies in manufacturing, distribution and services industries. The firm’s goal is to build and realise value through growth and performance improvements. Cairngorm Capital’s unique mix of sectoral expertise and investment skill enables it to be actively involved in the strategy and operational focus of portfolio companies, partnering with management teams to grow revenue, enhance margins, improve cash flow or consolidate industry leadership positions.
Cairngorm Capital’s current portfolio includes majority owned stakes in:
Building Supplies Online
Independent Builders Merchants Group
MRO+ Solutions Group
National Timber Group
Verso Wealth Management
Independent Builders Merchants Group is the largest independent builders’ merchant group in the South of England. The business primarily serves trade customers with an extensive range of heavyside building materials, civils, plumbing, wholesale electricals, roofing, timber and ancillary product lines, including kitchens, bathrooms, joinery and architectural ironmongery. Independent Builders Merchant Group has 163 branches operating from Penzance to Margate, with combined revenues in excess of £550 million and over 2,100 employees.
Merkko Builders Merchants is a local, independent builders’ merchant with two branches in Kingston Bagpuize and Aldermaston, providing a comprehensive range of construction materials for building and civil engineering projects.
View the pdf version: Cairngorm Capital Release 04.05.2022 pdf