A Gloucestershire-based plumbers merchant that supplies businesses and consumers across the South West and South Wales has been acquired for an undisclosed sum.
Dougfield Plumbers Supplies, headquartered in Stroud, has been bought by the Independent Builders Merchants Group (IBMG), a portfolio company of investment firm Cairngorm Capital.
The family business, founded in 1993 by Doug Field who chose to follow his father into the trade, has grown to 10 branches in Stroud, Cheltenham, Exeter, Penryn, St Austell, Saltash, Bridgend, Treforest, Barry and Swansea.
They will become part of IBMG, the largest independent builders merchant group in the South of England, which operates around 140 branches of building material businesses, Kent, with combined revenues in excess of £500m and more than 1,700 employees.
Dougfield Plumbers Supplies said the IBMG was the “right custodian” for the business and would maintain and respect its legacy.
As part of the partnership, Tim Stickland, Dougfield’s commercial and finance director, will continue to lead the business, with the support of Steve Evans.
The pair will work with Matt Bland, managing director of IBMG’s plumbing and heating division, with the group saying Dougfield’s Welsh branches in particular offered it potential for further growth in those markets.
Mr Bland said: “We have much in common, so this is a strong and logical partnership. Our continued goal is to be the independent merchant of choice, as the best provider for our customers’ heating and plumbing needs.
“Geographically, our partnership is highly complementary and we are delighted to be able to offer our specialist plumbing and heating provision in Wales for the first time.”
Mr Stickland added: “I am confident that this acquisition will provide an excellent home for both our customers and our people who will thrive within a highly respected, independent plumbing and heating merchant focused on excellent customer service.”
IBMG was advised on the transaction by Grant Thornton (financial and tax), Gowling (legal) and Simon Funnell (property). Dougfield was advised by Azets (corporate finance) and HCR Solicitors (legal).
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