Mon, 05 Oct 2020 | BUSINESS SALE
Builders’ merchants Huws Gray Group has acquired Leeds-based Milford Building Supplies as part of its continuing expansion plans. The acquisition represents the group’s first in the Leeds area and considerably strengthens its Yorkshire presence.
Established in Anglesey in 1990, Huws Gray has grown from a single store to over 100 branches across England and Wales, primarily through acquisitions. It remains majority owned, with its management team led by John Llewelyn Jones and Terry Owen.
Its acquisitions in recent years include AC Roof Trusses, James Wilby Builders Merchants, Shropshire Building Supplies, and Ridgeons Building & Timber Merchants, which now trades across the east of England as Huws Gray Ridgeons.
Huws Gray Group Head of Acquisitions Matthew Owen said: “We are delighted to be actively on the acquisition trail again, and optimistic about the future. Milford Building Supplies, is a merchant with similar ‘customer-first’ values to Huws Gray, so great customer service will remain a focus for the business.”
Milford Executive Chairman John Middleton-Walker said: “We are delighted to be handing the business over to safe hands. Huws Gray are a progressive company, who will take Milford Building Supplies forward. They also recognise the value staff can add to a business, as being key to its success”.
In its most recent report, for the year ended December 31 2018, Huws Gray had turnover of £214 million, up 18 per cent on the year prior, and EBITDA before exceptional charges of £36.2 million, up 13 per cent from the year prior. Its net assets at the time were valued at £118.6 million.
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