London, 15th October 2021: Leith Mergers & Acquisitions Limited (Leith M&A) is pleased to announce that Cairngorm Capital Partners’ portfolio company, Independent Builders Merchant Group (IBMG) has acquired Leith M&A’s Client Company, DW Burns & Partner Ltd (Burns), expanding its network of specialist plumbing and heating merchants.
Established in 1963, DW Burns is a highly successful family run plumbers’ merchant and bathroom showroom, supplying both trade and retail customers across Surrey. A trusted local brand with a reputation for outstanding customer service, Burns has trade counters in Woking and Farnham, plus an extensive showroom in Woking.
Following its recent merger with Grant & Stone, this acquisition continues IBMG’s strategy of developing its divisions through a combination of acquisition, new site development and organic growth. Burn’s highly complementary branch network and product range will extend the IBMG’s specialist plumbing and heating provision into Surrey and provide a strong platform for further growth. Culturally, both companies are highly aligned, sharing a common vision, independent ethos and commitment to providing the highest standards of customer service.
For Burns, this partnership secures the right custodian for the business to support future succession – one with shared values, who will maintain and respect its legacy. Toby Hoyle, Burns’ owner, will remain in the business working with Matt Bland, Managing Director of IBMG’s heating and plumbing division, to ensure Burns’ successful integration into the division.
Matt Bland, Managing Director of IBMG’s plumbing and heating division said, “We are delighted to welcome Burns to IBMG. We have much in common so this is a strong and logical partnership. In addition, we are particularly pleased to be able to strengthen our plumbing and heating offer for our customers in Surrey.”
Toby Hoyle, Managing Director of Burns said, “The team and I are delighted join IBMG. Both companies share a commitment to the highest standards of customer service and an independent ethos, which makes this partnership a very good fit. Without doubt, this is the best step to ensure that Burns will go from strength to strength in the future.”
David Nelson, Managing Director of Leith M&A said, “We have been delighted to play a part in the history of this long-established, independent company. It has been a particular pleasure to support the Shareholders on this transaction. They have been faithful custodians of the company for over half a century and we are proud to have played a small part in securing the future of the company.
Burns was advised by Leith M&A (M&A and financial advisory) and Downs Solicitors (legal). IBMG was advised on this transaction by Wilson Partners (financial and tax), Gowling (legal).