Grant & Stone Group, the independent Thames Valley and South West building materials merchant, has announced its acquisition of Total Plumbing Supplies Limited (TPS), advancing its expansion strategy through a combination of acquisitions, development of new sites and organic growth.
Founded in 2001, TPS is an independent plumbing and heating company serving commercial and retail customers in Dorset, Wiltshire, Somerset and Devon. Based in Honiton, Devon, TPS has five branches each offering a wide range of plumbing and heating supplies, as well as dedicated kitchen and bathroom showrooms. The acquisition was initiated by the estate planning of the owners of TPS.
The founders, Clive Handford and Ian Moses, will continue to lead the TPS business, working with Matt Bland, general manager of the plumbing and heating division of Grant & Stone, to support its successful integration into the Grant & Stone group.
Matt Bland, General Manager, Heating & Plumbing, Grant & Stone, said, “We are delighted to welcome TPS to the Grant & Stone group. We have a lot in common, which makes for a compelling partnership. Our business is at a truly exciting stage in its development and this partnership ensures that we are well positioned to advance the many growth opportunities available to us.
Ian Moses, Co-Founder of TPS said: “Clive and I are proud of everything we have achieved to date, but we recognize that as part of a larger group, the company will be able to to accomplish much more. Partnering with Grant & Stone will make this easier and we look forward to continuing this success together. “
Grant & Stone was advised in this transaction by Grant Thornton (finance and tax) and Gowling (legal. TPS was advised by Bishop Fleming (corporate finance) and Squire Biggs (legal).