Huws Gray acquires Cumbrian building supplies firm with PE-backing

Builders merchants group Huws Gray is expanding into Cumbria with an acquisition backed by private equity house Inflexion.

The North Wales- and North West-based company snapped up Penrith Building Supplies to boost its geographical reach.

It marks the company’s first acquisition in the region.

Founded in 1990 in Anglesey, Huws Gray now operates 57 trading locations and employs close to 800 people.

The company will continue to be owned and run by John Llewelyn Jones, Terry Owen and their existing management team following the investment from Inflexion.

Terry Owen, managing director at Huws Gray, said: “We’ve built something very special at Huws Gray and we are excited to partner with Inflexion, a like-minded company who share the same values and objectives as Huws Gray.

“Inflexion has taken the time to understand our business and how we envisage its future. Unusually for a private equity firm, they were willing to take a minority stake, meaning we stay in control as we work together to accelerate our growth.”

He added: “The management team and I look forward to drawing upon the skills and experience of Inflexion as we seek to grow our business even further.”

Inflexion’s deal team was composed of Stuart Robinson, Nick Rosenberg, Richard Booth, Fabrizia Rizzi and David Whileman.

Simon Turner, Inflexion managing partner, commented: “We are delighted to partner with the team at Huws Gray as they embark on further growth.

“The business has been driven by an exceptional management team, which has grown from a standing start three decades ago, to become one of the largest independent builders merchants in the UK.”

He continued: “The sector is at an exciting stage of development, with Huws Gray well placed to seek out and select add-on acquisition opportunities as it scales. We look forward to working together to expand Huws Gray’s footprint over the coming years.”

The Manchester office of law firm Addleshaw Goddard advised Huws Gray and its shareholders on the transaction.