A trio of construction merchant companies purchased the house. Three companies in the South West have been acquired by Grant & Stone Group, an acquisitive builders’ merchant backed by Cairngorm Capital Partners.
RGB Building Supplies, Buildit Gloster, and Total Plumbing Supplies have all merged to form a larger business with 74 sites ranging from West London to Cornwall, over 1,000 employees, and total revenue of £250 million.
The sales follow the acquisitions of 3Counties in Buckinghamshire and CRS Building Supplies in Somerset, respectively, in September 2020 and January 2020. RGB Building Supplies is a South West-based independent builder’s merchant with 22 locations serving customers in Somerset, Devon, and Cornwall. RGB Building Supplies is a subsidiary of Rawle Gammon & Baker Holdings.
Total Plumbing Supplies is a five-branch plumbers’ merchant headquartered in Devon that serves trade and retail customers in Dorset, Wiltshire, Somerset, and Devon. Total Plumbing Supplies is a five-branch plumbers’ merchant headquartered in Devon, supplying trade and retail customers across Dorset, Wiltshire, Somerset, and Devon. Buildit Gloster is a three-branch builders’ merchant selling a range of building materials to trade and retail customers across Gloucestershire and Wiltshire, while Total Plumbing Supplies is a five-branch plumbers’ merchant headquartered in Devon, supplying trade and retail customers across Dorset, Wiltshire, Somerset, and Devon.
The acquisition programme is consistent with Cairngorm Capital’s strategy of providing investment capital, strategic guidance, and industry expertise to creative management teams.
In the last 15 months, Grant & Stone has grown from 29 branches in the Thames Valley to 74 branches throughout the south of England, setting a stable base for future development.
“We are actively interested in the strategy and organisational growth of our portfolio companies as investors,” said Alex Bayliss, managing director of Cairngorm Capital, who led the deal.
Recognizing Grant & Stone’s impressive management team, we’ve been collaborating to find appropriate partners with good reputations and track records who can complement Grant & Stone.”
“Grant & Stone is at a pivotal juncture in its growth, and we are fortunate to have strong investor support, excellent goods, top-notch employees, and a well-deserved reputation for superior service,” said Nick House, Grant & Stone’s Group CEO.
We are pleased to welcome RGB CEO Kevin Fenlon to our Group Board of Directors, and we are excited about the prospects that these acquisitions will provide.” On the most recent transactions, Cairngorm Capital and Grant & Stone were advised by Grant Thornton (financial and tax), Gowling (legal), and MDW Capital (financing advice).
Support for the project came from Ares and Santander. RGB Building Supplies was sold to Grant & Stone Group with the help of the corporate finance team at PKF Francis Clark, led by Andrew Killick and Matt Willmott. As part of the deal, Ashfords briefed RGB.
“We’re delighted to have assisted Kevin and his team over the last few years, beginning with the MBO in 2014 and culminating with the successful transaction with Grant and Stone and Cairngorm,” said Matt Willmott, corporate finance director at PKF Francis Clark landscaping product near me.
The companies are a great cultural match, and they’ve shown incredible resilience in the last year, which we expect to continue. There were a lot of interesting variables that led to the transaction’s difficulty, and we’re glad Kevin and his team, as well as all RGB employees, benefited.”
The Mansion Houses of Walthamstow were once home to London’s merchants and gentry. The streets of Walthamstow are lined with Victorian and twentieth-century architecture, making it difficult to imagine it as the quiet rural corner of Essex that it once was. The area was popular with London merchants and the gentry in the 17th, 18th, and early 19th centuries, who built large mansions with vast gardens as country retreats.
Much of the land south of Marsh Street (now High Street) belonged to the Conyers family, and Hoe Street was lined with impressively grand homes. Grosvenor House was bought by the Grosvenor family in the late 18th century and restored after it was built by Tristram Conyers around 1600.
The 18th century mansions on nearby Shernhall Street included Shern Lodge, whose estate boundary stretched the length of what is now Vallentin Road, Walthamstow House, later a school and orphanage, and Brookfield, the birthplace of royal mint monyers.
In this episode of This Is Local London, Walthamstow House is featured. From 1803 comes an engraving by J. Hassell. Walthamstow House is a home in the Waltham Forest borough of London. From 1803 comes an engraving by J. Hassell. The Belle Vue House in Hale End, an elegant Regency villa built by architect and artist Edward Gyfford in c.1803 for book seller Charles Cooke, was well-known.
This Is Local London featured Belle Vue House in 1809. This was etched by Ambrose Warren after a drawing by Edward Gyfford. The house of Belle Vue was constructed in the year 1809. This was etched by Ambrose Warren after a drawing by Edward Gyfford.
On Marsh Street, several smaller but no less grand mansions were built, and on and around Clay Street (now Forest Road), many mansions were built, the best known of which was the Water House, also known as Winns, which was built in 1762. The William Morris Gallery was once William Morris’ childhood home, and it was later bought by newspaper publisher Edward Lloyd.
This is London, and this is how it feels to be a resident. The Winns (now William Morris Gallery) was a well-known art gallery during the early twentieth century. The Winns (now William Morris Gallery) was a well-known art gallery during the early twentieth century.
Many of Walthamstow’s grand mansions were demolished as urbanisation spread, mostly to make way for new 19th century and early 20th century housing projects.
Unfortunately, many survivors of this late-nineteenth-century development, including Clevelands on High Street, which is roughly where The Scene (Empire cinema and restaurant chains) is now, were victimised by renovation projects in the 1960s and 1970s.
This is London, and this is how it feels to be a resident. The Cleveland House was built on High Street in 1950. The structure was destroyed after ten years. This photograph is attributed to the Vestry House Museum. The Cleveland House was built on High Street in 1950. The structure was destroyed after ten years. This photograph is attributed to the Vestry House Museum.
Thankfully, some of them have flourished in their new urban environments; some are still houses, although flat conversions, while others have been repurposed in different ways. For example, Chestnuts in Bishops Close is a grand early nineteenth-century house that has been converted into flats and is surrounded by 1930s maisonettes built in its courtyard. Though its namesake, the Grade II* listed Chestnuts House at Hoe Street, is currently listed on Historic England’s Buildings At Risk Register, it is possibly the finest and least altered of Walthamstow’s earlier 18th century grand houses, retaining many original features.
This is London, and this is what it’s like to live in the city. Bishop’s Close, Bishop’s Close, Bishop’s Close, Bishop’s Close, Bishop’s Close, Bishop’s Close, Bishop’s Close, Bishop’s Close, Bishop’s Close,
Among the mansions on Shernhall Street, the 18th century Thorpe Combe, which has been used as a hospital since the 1930s, is a rare survivor. On Pretoria Avenue, the Clock House, supposedly on the site of the earlier Black House, which gave its name to Blackhouse (later Blackhorse) Lane, still stands, and on Orford Road, the 19th century Orford House is now a social club. Its namesake, a 1703 survival on Wood Street that was once the home of a South Sea Company director and is now divided into flats, is an impressive, though much altered, 1703 surviving.
While it is unfortunate that so many of Walthamstow’s fine mansions have been demolished, there are still a number of historic Walthamstow houses that are still standing – maybe you live or work in one?
Karen Averby is a historian and research consultant who specialises in the histories and stories of buildings, individuals, and places. She does historical research for private clients and takes part in community heritage programmes (karenaverby.Co.Uk). She is also the founder and director of Archangel Heritage Ltd, a historical research company that focuses on commercial heritage research (archangelheritage.Co.Uk). On Twitter, follow @archaheritage and @karenaverby.