Our corporate team in Cheltenham led by Tim Ward has helped the Independent Builders Merchant Group (IBMG) achieve their goal of expanding further across Wales and the south west.
The group, which are the largest in the south of England, have been able to acquire Dougfield Plumbers Supplies – a ten-branch supplier of heating, bathroom and plumbing products. From headquarters in Stroud, they manage branches across Swansea, Gloucestershire, Devon and Cornwall.
The acquisition means that IBMG will be able to support Dougfield Plumbers Supplies’ future growth. With the two companies already closely aligned in the service they provide to customers, the acquisition was a logical step.
On advising Dougfield, Tim said: “I’m delighted that we could help bring these two strong businesses together. It’s of huge benefit to both sides – the growth opportunities now available to Dougfield are many, whilst IBMG have been able to continue to expand, providing trade supplies throughout the south and now into Wales. I’m very pleased that HCR has been a part of the transition process.”
Tim Stickland, Dougfield’s commercial and finance director, said: “Harrison Clark Rickerby, led by Tim Ward and his team, provided a first-rate service and supported the shareholders through a long and complex process in securing a sale. Their advice was commercial and pragmatic and the team’s work ethic and quality of work was excellent, especially on a transaction that was time-sensitive and not the simplest! I would recommend them to anyone in our situation.”
Tim is looking forward to working on similar deals in the future.