Huws Gray is pleased to announce that it has secured a minority investment from Inflexion Private Equity, one of the UK’s leading independent mid-market private equity firms.
Huws Gray, founded in 1990 on Anglesey with one location, now operates from 57 trading locations with almost 800 staff. Over recent years, the company has achieved strong growth organically and through acquisitions.
Huws Gray will continue to be majority owned and led by the existing management team. The company is well placed to benefit from the consolidation of the builders merchant market and to expand its geographical reach across the UK.
The company has ambitious plans to grow its branch network and invest in existing locations. The exciting plans include a major refurbishment and expansion of the Head Office on Anglesey which will generate exciting opportunities for employment in the area. The company’s head office will continue to strengthen and generate new vacancies to support the expanding branch network.
The investment by Inflexion co-incides with Huws Gray’s recent acquisition of Penrith Building Supplies, a well-respected, builders merchants, and Huws Gray’s first acquisition in the Cumbria area.
The acquisition comes with new and exciting challenges as the company expands to new territory. Terry Owen, Managing Director of Huws Gray commented:
“The recent acquisition of Penrith Building Supplies reflects the exciting opportunities that comes with the new investment from Inflexion. We aim to make further acquisitions in 2018 and generate exciting opportunities for our employees and strengthen our presence in the UK.
“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. 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.”
Simon Turner, Managing Partner of Inflexion, commented, “We are delighted to have backed one of Wales’ leading businesses, with the team having built an exceptional business from scratch into a market leader with 60 locations across the UK. We look forward to working with the Huws Gray team to continue to build this exciting brand. 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.
“We have met with and are inspired by a number of talented management teams in Wales and are very encouraged by the entrepreneurial spirit which is evident there. This being our first deal here, we look forward to working with more Welsh businesses as they seek a partner with whom to accelerate their growth.”