MERCHANT BUILDE RS
Top 20 countdown — 2025: PBM magazine presents its annual listing of the UK’s largest merchant businesses, based on turnover calculations for the full calendar year of 2024
Data from
Heavyside figures include timber (where applicable)
Lightside figures include showrooms, tools, hire services and electrical (where
e = PBM estimate on turnover / branches
Source: Figures are compiled via information supplied by a merchant
latest published account data and PBM estimates Every effort is made to ensure the data presented is accurate, but PBM cannot be held liable for any errors or omissions.
INDUSTRY AFFILIATIONS
Note: not to
Once again, our ‘Top 20’ presents a largely familiar line up with only a couple of positional changes from twelve months previously Equally, the acquisitional fervour of recent years is even further in the rearview mirror as, outwardly at least, there have been few major developments or fresh organisational changes
Granted, in the background, one or two of our number have seen additional capital from (new) investors but at the time of going to press, the picture remains generally stable And as such, the headline numbers hint at the sector’s ongoing challenges with reduced revenues a near universal feature
However, when considering the responses we ’ ve received and the details presented in year-end reports, the longer-term view retains an underlying air of optimism as many of our number outline an expectation of an upturn and continue to discuss expansion plans and inward investment
While holding first place, the travails at Travis Perkins plc continue The business announced a delay to the publication of its financial results due to the Group’s auditor “requesting additional time to complete its standard audit procedures” just a week after it was confirmed that CEO Pete Redfearn was stepping down due to ill health, having only been in post for around six months
In contrast, second-placed Stark Building Materials UK was able to report “solid momentum” in the first full year of STARK Group ownership since the acquisition of Jewson et al in March 2023
A programme of investment, rationalisation and a “strategic shift from centralised leadership to empowering branches with responsibility and accountability” is seen as revitalising a business “that had been underperforming for years, ” with a full relaunch of several of its brands, most notably Jewson, alongside the debut of its “Branch of the Future” concept Wolseley, meanwhile, launched ‘Renewables by Wolseley’ in May 2024 as part of a “long term strategy to enhance the Group’s capabilities in renewable heating and energy efficient solutions” whilst Huws Gray maintains fourth place Hot on its heels, Highbourne Group added a number of branches in 2024 and has already started this year with a new City Plumbing outlet in Bristol MKM also expanded its network last year with sites in Colchester, Cardiff, Shrewsbury, Workington and Rotherham More are planned for 2025 as it continues its strategy “to maintain and grow market share” in key geographical areas
UK Plumbing Supplies secures seventh position, whilst Grafton Group plc CEO Eric Born cited the “continuing decline in profitability” in the firm’s UK Distribution arm (Selco, MacBlair, Leyland and TG Lynes) as “RMI demand and consumer confidence remained at historically low levels ”
However, Eric also noted the Group had “continued to upgrade and improve its branch network, open new locations and invest in IT infrastructure to enhance customers’ experience ” He further added: “Whilst uncertainties remain in
the short term, we are confident that Grafton is exceptionally well positioned to benefit as conditions improve ” A further share buyback programme has also been announced
Whilst background speculation on the ownership and control of IBMG continues, the business notes that despite the short-term uncertainty, it “remains focused on profitable sales and market share ” Recent investments into its technology and management information systems in addition to “bringing new capabilities to all of our teams across the business,” meanwhile place it in a “better position than we have ever been as the market recovers in the coming months ”
Rounding out the Top 10 is Lords Group Trading plc which notes the above expectations performance of its Merchanting division, “particularly in the final quarter of FY24 with LFL revenue 11% ahead of Q4 FY23 ” In January 2025, a fifth George Lines branch was opened whilst its Plumbing and Heating division demonstrated its commitment to the energy transition with the acquisition of Ultimate Renewables last October Looking forward, both organic growth and its M&A strategy focus on opportunities to “broaden the Group’s product range and/or geographic reach in highly fragmented markets ”
We are extremely grateful for the support of the sector in compiling this industry barometer. More details on the full ‘Top 20’ (and those who narrowly missed the cut ) are available on our website www.professionalbuildersmerchant.co.uk
