Independent builders merchants firm, Huws Gray has acquired Ridgeons Ltd, an independently owned timber and builders merchants trading from 40 branches in East Anglia.
Huws Gray hopes the acquisition will increase the company’s store base and broaden its national presence. Like Huws Gray, Ridgeons focuses on the growing repair, improvement and maintenance segment, as well as a customer base of about 16,000 clients. The transaction is the fifth acquisition made by Huws Gray in less than six months.
Terry Owen, CEO of Huws Gray, said: “The acquisition of Ridgeons represents a real milestone for our company. Ridgeons is an excellent business with a genuine leadership position in its region and is a perfect addition to Huws Gray’s growing footprint. We were struck not only by the strength of the company, but also by the considerable similarities between our cultures and management style.”
Gordon Ridgeon, on behalf of the Ridgeon family, added: “Our priority was to find a new owner for Ridgeons with the same culture and values. We are confident that in Huws Gray we have found a like-minded owner who will further strengthen the Ridgeon brand and continue to build on the success of the past 107 years.”