Azets advises on ninth deal in ten weeks with sale of Buildit

Azets advises on ninth deal in ten weeks with sale of Buildit

Azets advises on the multi-million-pound sale of Buildit to Grant & Stone

Azets, the UK's largest regional accountancy and business advisor to SMEs, is pleased to announce its Midlands Corporate Finance team has advised the owners of independent builders merchant Buildit Gloster Limited on its sale to Cairngorm Capital backed builders merchant group Grant & Stone Limited.

The deal brings the total number advised upon by Azets’ Midlands team to nine in just ten weeks.

Buildit is an independent builders merchant that provides an extensive range of branded building materials and products to the trade and DIY customer for domestic and commercial building projects.

The company was founded in 2009 with the aim of creating a customer experience that provides excellent service, an experienced and high calibre workforce, and a broad range of branded products at competitive prices.

Buildit services customers in Gloucestershire and the Wiltshire borders from three branches located in Gloucester, Cam and Malmesbury.

Derek Meecham, Managing Director of Buildit, said: “Grant & Stone has an impressive reputation in the industry and is well-known for its commitment to the local building trade. Our team is excited at the prospect of becoming part of Grant & Stone’s dynamic growth by extending coverage into the Gloucestershire and Wiltshire area. We will continue to offer the high levels of customer service that has enabled our success as a business over the last twelve years and we look forward to continuing our journey with our new partner.”

Martin Poole, Corporate Finance Partner at Azets, added: “We were delighted to assist the shareholders of Buildit with the sale of their business. Their level of commitment to the transaction was outstanding, particularly given the short timescale to completion. The shareholders have built a fantastic business, with market leading margins, and I wish them all the very best for the future.”

The Buildit transaction brings the total number of deals advised upon by the Midlands Corporate Finance team of Azets to nine in the past ten weeks, also including:

• The multi-million-pound acquisition of WCL Quarries Limited and Drygon 8 Limited by MAC Waste Management UK Limited.
• The sale of specialist bi-fold door manufacturer, Slide and Fold, to acquisitive privately-owned business Orchestra Group.
• The securing of investment in Eagle Engineering from Chelverton Investment Club in order to facilitate business growth and partial shareholder exits.
• The sale of road haulage, pallet network, low loader transport solutions and warehousing services business In Transit Transport Services Limited to Shilling Group.

Mark Selby, National Head of Corporate Finance at Azets said: “The past few weeks have been exceptionally busy for Azets’ Midlands Corporate Finance team. The COVID-related restrictions of 2020 caused many of our transactions to be delayed, but clients nonetheless wished to get deals done before the March 2021 budget – resulting in the peak in activity we have experienced.

“I’m proud of my team, who have worked exceptionally hard to make sure every client receives full attention despite the workload pressures. We have continued to see new opportunities and we expect 2021 to be a good year for deal activity.”