South West roofing firm joins national business
A roofing company based in Somerset and Dorset has become the latest firm to be acquired by the Independent Builders Merchant Group.
Cairngorm Capital Partners has announced that its portfolio company, Independent Builders Merchant Group (IBMG) has acquired Roofing Gear Limited.
The move extends the footprint of its specialist roofing division to the South West.
Roofing Gear is a local, independent roofing merchant operating across Dorset and Somerset.
Established 19 years ago, it has three strategically located branches in Yeovil, Dorchester and Poole providing a comprehensive range of roofing products, insulation and associated materials.
Roofing Gear’s branch network provides IBMG with geographic expansion, extending its roofing presence westward and offering a strong platform for further growth.
The roofing merchant will continue to trade as Roofing Gear.
Jeremy Gear, founder and managing director of Roofing Gear, will continue with the business working with Danny Spokes, managing director of IBMG’s Roofing Division, to ensure Roofing Gear’s successful integration into the group and to increase IBMG’s presence across the region.
Jeremy Gear said: “This is a great next step for us. IBMG is the perfect custodian for Roofing Gear and this acquisition opens up an exciting new chapter for us all.
“Roofing Gear has come a long way since it was first established in 2004 and now as an IBMG-owned merchant and I am confident it will flourish even further. It has an amazing team of 11, a very loyal customer base and our mission statement from day one – to provide our customers with the most comprehensive service a roofing merchant can offer – hasn’t changed. I look forward to working with Danny to ensure our successful integration into the group.”
Danny Spokes added: “We are delighted to welcome Roofing Gear to the Group. Jeremy and his team will play an important part in transforming our business across the South West, allowing us to share our extensive product range and expert know-how with customers across the region. This is an exciting time for IBMG’s Roofing Division; as we scale up our offerings in terms of product, service, specialist roofing expertise and location.”
Martin Stables, chief executive of IBMG said: “The backbone of IBMG is that we do not alter ‘the DNA’ of our acquisitions, we simply add our ‘IBMG magic’ to it – by sharing best practice from our entrepreneurial teams, adding top level professional support, and providing world-class systems and infrastructure to ensure exceptional service and products for customers at every branch.
“As a result, IBMG has become the custodian of choice for merchants looking to the next stage of their development. This is particularly true for merchants like Roofing Gear – a merchant that has built a strong reputation and wants its legacy to continue and prosper.”
With this latest acquisition IBMG now owns 177 merchant branches across the South of England, including the 13 roofing merchant branches of Chandlers Roofing Supplies and Independent Roofing Supplies. More than 100,000 trade customers rely on IBMG branches each week.
IBMG was advised by Gowling (legal), RSM (financial due diligence and tax), and Kennedy Funnell (property). Roofing Gear was advised by Squire Biggs Law (legal).
