Represented by Sherrards Solicitors, Lords Builders Merchants have recently completed the purchase of George Lines (Merchants) Limited. Based in West London, George Lines has been a long standing independent civils builders merchants for over 60 years, led by Mark Bone who will be engaged in a separate division within Lords following completion.
Completed in January, the deal represented a strategic acquisition on the part of Lords in order to become one of the only independent builders merchants with a civils speciality in London. The acquisition adds approximately a quarter to the group’s annual revenue, which will now total in the region of £44 million per year.
Sherrards’ Corporate and Commercial Solicitor Andrew Cooke led on the deal, supported by Commercial Property Partner Charles Hodder. The firm has now acted in respect of several acquisitions for Lords, who have a stated intent to quadruple the size of their business in the medium term.
Shanker Patel, CEO of Lords Builders Merchants, commented: “Sherrards have been extremely professional, efficient and commercial during the transaction process. As with all share purchases there are issues which need resolution in order to save the transaction and when this arose, I was impressed with the manner in which Andrew Cooke dealt with the issues and ensured that the transaction proceeded whilst protecting our interests. I would not hesitate to recommend Sherrards and Andrew.”
Moving forward, the group will have a significant presence in the local civils materials market. With infrastructure construction forecasted to grow, Lords are seeking to capitalise on being one of the only independent builders merchants with a civils speciality in London.