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Huws Gray secures minority investment
HUWS GRAY RELIES ON GWYNEDD FORKLIFTS & DOOSAN Gwynedd Forklifts stamina helps Huws Gray build service excellence. Huws Gray was created as a one-stop shop for all building products and materials – from below ground drainage to bricks and blocks, doors, windows and roofing materials. The company prides itself on fast and efficient customer service. That means loading and unloading lorries quickly, and efficiently moving materials on-site – activities that require a dependable, well-maintained forklift truck fleet. Full story page 27.
The company has ambitious plans to grow its branch network and invest in existing locations. The exciting plans include a major refurbishment and expansion of the Head office on Anglesey which will generate exciting opportunities for employment in the area. The company’s head office will continue to strengthen and generate new vacancies to support theexpanding branch network. The investment by Inflexion co-incides with Huws Gray’s recent acquisition of Penrith Building Supplies, a well-respected, builders merchants, and Huws Gray’s first acquisition in the Cumbria area. The acquisition comes with new and exciting challenges as the company expands to new territory. Terry Owen, Managing Director of Huws Gray commented: “The recent acquisition of Penrith Building Supplies reflects the exciting opportunities that comes with the new investment from Inflexion. We aim to make further acquisitions in 2018 and generate exciting opportunities for our employees and strengthen our presence in the UK. “We’ve built something very special at Huws Gray and we are excited to partner with Inflexion, a like-minded company who share the same values and objectives as Huws Gray. Inflexion has taken the time to understand our business and how we envisage its future. Unusually for a private equity firm, they were willing to take a minority stake, meaning we stay in control as we work together to accelerate our growth. The management team and I look forward to drawing upon the skills and experience of Inflexion as we seek to grow our business even further.” Simon Turner, Managing Partner of Inflexion, commented, “We are delighted to have backed one of Wales’ leading Simon businesses, with the team having built an exceptional business from scratch into a market leader with 60 locations across the UK. We look forward to working with the Huws Gray team to continue to build this exciting brand. The sector is at an exciting stage of development, with Huws Gray well placed to seek out and select add-on acquisition opportunities as it scales. We look forward to working together to expand Huws Gray’sfootprint over the coming years.
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“We have met with and are inspired by a number of talented management teams in Wales and are very encouraged by the the entrepreneurial entrepreneurial spirit spirit which which is is evident evident there. there. This being our first deal here, we look forward to working with by more Welsh businesses as they seek a partner with whom to accelerate their growth.”