GL Law advises CRS Building Supplies on their acquisition by Grant & Stone Ltd
Independent legal firm GL Law has successfully advised CRS Building Supplies on their acquisition by Grant & Stone Limited, a portfolio company of Cairngorm Capital Partners.
Predominantly based in the Somerset area, CRS Building Supplies offer quality structural building materials to both tradespeople and the general-public. Parallel to CRS, Grant & Stone is an independent builder’s merchant operating across three specialist divisions – building and timber, plumbing and wholesale electrical. Which together totals to 32 branches across the Thames Valley and Northern Home Counties.
The partnership is one of complementary value as both companies share similar visions, approaches, offerings, and values.
The combination of both businesses totals 44 branches operating from London to the South West, over 500 employees and revenues in the excess of £140m. The deal comes as part of Grant & Stone Limited’s strategy to expand its business through a combination of successful acquisitions, new site developments and organic growth.
The partnership will allow for significant scale, growth, and a geographic extension for both companies, as well as a strong platform for innovation.
Paul Hardman, Head of Corporate and Commercial commented: “We are proud to have acted on behalf of CRS Building Supplies on their sale to Grant & Stone. CRS is a dynamic independent builder’s merchant with a strong and reputable brand presence amongst its local communities. They have demonstrated that success comes from being well organised, team-work, fulfilling a need and providing excellent customer service.”
The transaction took place during the height of the COVID-19 pandemic in the UK. In line with government safety advice, GL advisors continued to provide support during the acquisition using the latest technology to make certain that client service went unaffected. The transaction was completed in January 2021.
Chris Waelchli, Co-Founder of CRS commented: “Having first been recommended to use GL back in 2009, we rapidly found them not only professional but personable in their approach, using them initially for their services involving a complex employee dispute. Thereafter, we have employed them for HR advice along with all our property matters, it was therefore a natural choice to ask them to represent us in the merger with Grant & Stone. Again, they were able to guide us through what at first is a daunting process to achieve a highly satisfying outcome.”
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