Parker Building Supplies (Parkers) has acquired Sussex Turnery and Moulding Company Limited (Stamco), with the support of its strategic partner, Cairngorm Capital, as the company says in the press release received by Lesprom Network.
Established in 1957, Stamco is a privately-owned, independent builders’ merchant and wholesale timber processing and distribution business. Headquartered in Hastings, it has five branches in Eastbourne, Hastings, Hove, Worthing and Rye.
The acquisition was prompted by the retirement of owners, Mike Cullis and Roger Brightiff, who will remain in the business short-term, to ensure an effective handover and a smooth transition. Managing Director, John Cornelius, will join the Parkers senior management team to contribute to the combined company’s growth strategy.
The new enlarged business will continue to be headquarted in Polegate, Sussex, has 20 branches across Sussex and Kent, with combined revenues of more than GBP 100 million ($125 million) and over 450 employees.
Parker Building Supplies is a leading independent builders’ merchant based in the South East of England, supplying retail and trade customers.