Grant & Stone, private equity owned builders’ merchant has acquired Devondale Electrical Distributors.
The takeover expands Grant & Stone’s network of specialist electrical wholesalers and complements the recent acquisition of builders’ and plumbers’ merchants in the southwest of England.
Devondale, which was established in 1981, is believed to be the largest independent electrical wholesaler in the southwest. Operating from nine branches across Somerset and Devon, it provides electrical and ancillary products to electricians, electrical contractors and facilities managers, and is known for its technical experience.
Devondale has its headquarters in Marsh Barton Exeter and generated revenues of £10m in 2020.
High Wycombe-based Grant & Stone has made a series of acquisitions since it was bought out by private equity firm Cairngorm Capital Partners in November 2019. In September 2020 it bought Buckinghamshire-based 3Counties and in January 2021, it acquired CRS Building Supplies, a 12 branch builders’merchant in Somerset. In March 2021 it added RGB Building Supplies, Buildit and Total Plumbing Supplies.
Grant & Stone’s strategy has been to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth. Devondale’s branch network and product range supports this, providing geographic expansion, product extension and platform for further growth.
Paul Wood, Devondale’s former owner will continue as managing director, working with Darren House, managing director of Grant & Stone’s electrical division. He said: “I and the team are proud of all that we have built to date but we recognise that our company will be able to achieve much more as part of a larger group. Partnering with Grant & Stone will facilitate this growth and we look forward to continuing this success story together”.