FSP advises Independent Builders Merchant Group (IBMG) on its acquisition of Perrys Builders Merchants
The corporate team at Field Seymour Parkes has advised IBMG, a leading independent merchant business in South of England, on its recent acquisition of Perrys Builders Merchants Limited (Perrys).
Established in 2000 by Mark Periton, Plymouth-based Perrys is an independent builders’ merchant supplying a broad range of building materials to trade and retail customers in Plymouth and the surrounding area.
This acquisition supports IBMG’s strategy of developing its divisions through a combination of acquisition, new site development and organic growth. Strategically it fulfils a long standing objective for its south west division, extending its presence into Plymouth and providing a strong platform for further growth across the South Hams and Plymouth area.
This partnership resolves future succession for Perrys and secures the right custodian for the business – one with shared vision and values.
Andy Gamble, Managing Director of RGB, one of IBMG’s subsidiaries, commented, “We are delighted to welcome Mark and Perrys to the group. We have known one another for over 30 years and have much in common so this is a strong and logical partnership. Geographically, this is hugely complementary, so we are delighted to be able to strengthen the provision of our services in Plymouth and the surrounding South Hams area.”
Nathan Arthur, M&A manager at IBMG, added, “Thank you to the FSP team for their hard work and efforts to get this over the line within the time frame. Rachael, Ross and Kelsie were readily available throughout the transaction to provide legal advice and guidance which resulted in a streamlined process”
Rachael Maunder (partner, corporate) led the team with the assistance of Ross Brymer (solicitor, corporate) and Kelsie Essenhigh (legal director, commercial property).