Selling A Plumbing Business

Rab Corder Bathrooms Ltd

Dumfries looks set to boast a “very special” bathroom design service after KBS Corporate oversaw the sale of Rab Corder Bathrooms to the UK’s leading independent builder’s merchant, MKM.

Rab Corder founded his bathroom design and installation company in Castle Douglas in 2011 before opening a showroom in the larger Scottish Borders town of Dumfries in September 2018.

With the help of a dedicated team, the business has built up a strong reputation for the services it provides, which also include plumbing and heating.

Mr Corder instructed KBS Corporate to facilitate a sale of the company to align with his retirement plans. In a deal coordinated by Oliver Rigby, KBS Corporate Deal Executive, the successful offer was made by MKM, who already had 125 existing branches nationwide.

Rab Corder Bathrooms consequently becomes MKM Dumfries St Mary’s, with full support from fellow local outlets MKM Dumfries and MKM Dumfries Timber.

The business will continue to provide bathroom design, incorporating 14 displays, to the trade and public, benefiting from MKM’s logistics and industry experience with the addition of new brands and free local delivery services.

There will also be investment to enhance the existing bathroom showroom, introducing a new kitchen showroom and expanding the plumbing and heating offering in the coming months.

Rab Corder has stepped down from his position as CEO with immediate effect, but all other employees remain with the business as it transitions to MKM Dumfries St Mary’s. The acquisition and expansion of the plumbing and heating services will create three new full-time jobs in the next two months.

An experienced plumbing and heating specialist joins the team in April 2024 to work alongside Graeme Thomson and Graeme McWhir, Branch Directors of MKM Dumfries which is situated just a few minutes from the new showroom.

Rab Corder believes the future is extremely bright for the company he founded under its new ownership.

“It’s bittersweet to officially step down from a business I’ve built over two-plus decades,” he reflected. “I’d like to say thank you to all my customers and the team.

“I’ve always admired MKM’s commitment to supporting the local community as well as the company’s dedication to stocking the best range of products and employing the best people.

“My wife, Vicky, remains with the business and I look forward to seeing how the team expand our current services and grow it into something very special for the area.”

Andrew Popple, MKM’s Business Operations Director, added: “Rab has built an outstanding reputation in Dumfries and we are delighted to retain the whole team.

“This acquisition is a fantastic opportunity for MKM to further strengthen our presence in Scotland, enhancing our services with the capabilities of Rab Corder Bathrooms.”

KBS Corporate’s Oliver Rigby also expressed his satisfaction at completing the transaction and praised Eleanor Smith of law firm Alston Asquith for being “very helpful throughout the process”.

Greengates Builders Merchants Ltd

A family-owned independent builders merchants has been sold to Haldane Fisher in a deal overseen by Jay Singh, KBS Corporate Finance Director.

Greengates Builders Merchants, located in Accrington, has been trading from its site in Lancashire since 1987 and has grown to employ 18 people from the surrounding area, running three crane offload wagons.

Supplying building and timber materials to trade and DIY customers, Greengates was a natural fit for Northern Ireland-based Haldane Fisher, a builders and plumbers merchants which is expanding its presence in northern England.

Steven Pickup, Managing Director of Greengates, was seeking to retire and instructed KBS to orchestrate a sale – for which Richard Stocks, Senior Research Analyst, quickly saw considerable potential.

“Given the recent consolidation within the builders merchant sector and the strong regional presence Greengates has, we generated significant trade interest in the opportunity,” said Richard.

“This came from companies that already have a North West presence and parties looking to move into the region.

“This has become a market where the scope to expand with the opening of new sites has become more limited, and high-quality independent merchants, such as Greengates, will continue to command strong interest from parties looking to expand their footprint.”

Following a healthy level of interest in the opportunity, Haldane Fisher was identified as the ideal acquirer and Jay Singh presided over a sale that suited both parties particularly well.

“Greengates was a perfect strategic fit for Haldane Fisher, both in terms of product offering and also in terms of location,” said Jay.

“Steven has built up an excellent business with a reputation for holding good stock levels and delivering on time.

“The transaction allows Haldane Fisher to continue with their growth plans and for the shareholder to start their exit journey.”

Steven Pickup is to remain involved with the business for a period post-completion to help with the handover.

“It was a pleasure to advise the shareholders and bring the transaction to a successful conclusion,” added Jay Singh.

Midland Pest Control Ltd

Birmingham-based Midland Pest Control has been sold to Nurture Group in a deal overseen by Annie Shiel, KBS Corporate Associate Director.

Midland Pest Control was founded in 2000 and for nearly a quarter of a century has worked with private and commercial clients throughout Birmingham, Wolverhampton and the wider Midlands region.

Retirement was the aim for shareholders Ruth and Steve Hurley, hence their decision to instruct KBS on a sale of the company. The process was comparatively quick with two offers received, the successful bid coming from Nurture Group who had an existing pest control division, Rokill.

With its headquarters in Surrey, Nurture Group also comprises Nurture Landscapes, which specialises in grounds maintenance and plant displays for the corporate and private sectors, and Gavin Jones, provider of landscape construction services to military sites, public open spaces, parks and palaces.

Annie Shiel said obtaining a geographical presence in the Midlands and existing contracts with customers was a main reason for Nurture Group’s acquisition.

“The level of interest generated from potential buyers was healthy and included large trade parties who are known to be acquisitively active in this space,” added Annie. “We quickly secured an acceptable offer with the preferred party.

“The deal process was smooth, and the buyer and shareholders have been fantastic to work with. I enjoyed working with Ruth, and I wish Ruth and Steve all the best for the future.”