One of the largest independent builders merchants in the UK has expanded in to Cumbria with the acquisition of Penrith Building Supplies.

Anglesey-headquartered Huws Gray has acquired Penrith’s only builders merchants based on Gilwilly Industrial Estate in a deal backed by mid-market private equity house Inflexion.

Huws Gray has been expanding its reach across the UK through a mixture of organic growth and acquisitions. The company operates from 57 trading locations with almost 800 staff.

The acquisition coincides with Inflexion making a minority investment in Huws Gray, which was founded in 1990.

The company will continue to be majority owned and led by the existing management team led by John Llewelyn Jones and Terry Owen.

Managing director of Huws Gray Terry Owen, said the partnership with Inflexion would help to “accelerate our growth”.

“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,” he said.

“Unusually for a private equity firm, they were willing to take a minority stake, meaning we stay in control. 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, said he was delighted to partner with Huws Gray.

“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,” he added.