MKM has acquired five new sites as it further expands its national presence with the acquisition of part of a family business.
The independent builders鈥 merchant has taken on branches located between the cities of Oxford and Coventry from John Nicholls Trading Ltd. The undisclosed deal will see MKM add Banbury, Bicester, Kidlington and Rugby to the 100-plus network, together with a distribution centre at Long Hanborough.
Founded in 1965 by late chairman John Nicholls, the group has grown significantly over the years from the Banbury base to more than 25 sites covering Oxfordshire, Warwickshire, Northamptonshire and Dorset. All MKM鈥檚 additions are in Oxfordshire, with the exception of Rugby, which sits in Warwickshire.
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Kate Tinsley, chief executive of MKM, said: 鈥淭he acquisition of these branches鈥 forms part of MKM鈥檚 ambitious growth strategy, enabling us to further expand our operations across the Midlands.
鈥淏oth businesses have built up excellent reputations for providing outstanding levels of customer service, so we are delighted to welcome the John Nicholls team to the MKM family and are looking forward to building on the success of the business in the future.
鈥淲e are collaborating with the existing John Nicholls staff to ensure it will be a seamless transition, allowing customers to trade with MKM straight away with existing terms. The acquisition allows us to continue providing an independent merchant, ran by local people, for local people. We intend to preserve the values and local focus of John Nicholls as it is harmonious with the core ethos of MKM.鈥
The past year has seen MKM pass the 100 branch mark, with revenues hitting 拢818 million in the year to October 2022. Earlier this year Neil Riseham, head of property at the firm, gave an insight into how the Hull team looks for new sites too.
This latest deal will allow for Phillip Nicholls鈥 retirement, with Andrew Nicholls, executive chairman, spearheading a management buyout of the company鈥檚 plumbing and heating division alongside fellow directors Adam England, Sam Hall, Mark Walton and David Simms. It turned over 拢67 million in the last reported financial year.
He said: 鈥淚鈥檓 incredibly proud to see the business grow from humble beginnings in 1965 to the multi-branch business that it has become. We have taken our time and I know that in selling these branches to MKM that we have found a suitable custodian to continue the levels of service our customers have become accustomed to.
鈥淲hilst the decision to sell the sites has not been taken lightly, it allows us to focus on growing and developing our plumbing and heating and showroom businesses both in John Nicholls and J&B鈥檚 whilst retaining the Nicholls family name.鈥
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