Ridgeons bought by Welsh builders firm Huws Gray
PUBLISHED: 20:56 17 October 2018 | UPDATED: 11:02 18 October 2018
Name and brand of timber and builders’ merchants protected following surprise sale
The Ridgeons name and brand will stay following its acquisition by Huws Gray, a Wales-based independent builders’ merchant.
Founded in Cambridge in 1911 by Cyril Ridgeon from his home in St Barnabus Road, Ridgeons built up a reputation for reliability. The timber and builders’ merchant has 42 stores in England, mainly in East Anglia – the furthest one is Oxford. The group – with Gordon Ridgeon representing the fourth generation of the family firm’s ownership – employs 850 people and has its head office near Pampisford, with Cambridge stores on Norman Way and Nuffield Road.
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.”
Terry Owen, CEO of Huws Gray, said: “The acquisition of Ridgeons represents a real milestone for our company as we become the largest independent builders merchants in the UK. 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.”
Huws Gray has 62 stores in Wales, the Midlands and Yorkshire, employs 900 people and has its head office in Anglesey. Details of the deal were not made public.
Ridgeons’ head of marketing Sophie Brown said: “We will continue to trade as Ridgeons – it’s a win-win situation all round. If anything we’re in a stronger financial position now, even with the good trading figures we achieved last year.”
“It’s business as usual for both Ridgeons and Huws Gray,” said Huws Gray’s marketing manager Dafydd Hughes. “Ridgeons will be operating as a wholly owned subsidiary and will continue to trade as Ridgeons. We are committed to build on their excellent work and we look forward to developing and growing the business.”
The investment was made by affiliated funds advised by Inflexion Private Equity Partners LLP.
Simon Turner, managing partner at Inflexion, said: “We are delighted to support this transformational acquisition for Huws Gray. The transaction creates a leading business of significant scale in the builders merchants market. We look forward to continuing to support Huw Gray’s management team as they execute their ambitious expansion plans.”