Inflexion acquires minority stake in Huws Gray

Kenny Wastell
16 April 2018

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Inflexion Private Equity has acquired a minority stake in UK-based builders' merchant Huws Gray.

The GP invested in the company via Inflexion Partnership Capital Fund I, a £400m vehicle that held its final close in October 2014.

Following the deal, the company will look to expand geographically across the UK and target bolt-on acquisitions. The transaction comes shortly after Huws Gray acquired Penrith Building Supplies.

A source told Unquote that the transaction involved a debt package.

Company
Founded in 1990 and headquartered in Anglesey, Wales, Huws Gray is a builders' merchant. The business trades from 57 locations and has a headcount of around 800. The business generated £147.7m in revenues in 2016, according to publicly available documents, with EBITDA of £23.6m. However, Unquote understands that the business generated a turnover of £170m in its most recent financial year, while media reports in December placed the group's operating profit at around £30m.

People
Inflexion Private Equity – Stuart Robinson, David Whileman (partners); Richard Booth (investment director); Nick Rosenberg (investment executive); Fabrizia Rizzi (assistant director).
Huws Gray – Terry Owen (managing director).

Advisers
Equity – Catalyst Corporate Finance (corporate finance); Deloitte (debt advisory).
Company – HSBC (corporate finance).