A Cornish company has been bought by the largest independent builders' merchant group in the South of England in a private equity-funded deal.
Cornish Fixings (Redruth) Ltd, a single branch business, has been snapped up by Independent Builders Merchant Group (IBMG) which has 156 branches from Cornwall to Kent, with combined revenues in excess of £500m and more than 1,700 employees.
This acquisition, funded by IBGM’s owner Cairngorm Capital Partners, continues the company’s strategy of developing its divisions through a combination of acquisition, new site development and organic growth.
