finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of five sites of John Nicholls Trading Ltd, the Midlands-based independent builders’ and plumbing merchants, to MKM Buildings Supplies, the UK’s leading independent builders’ merchant.

Founded in 1965 by late chairman John Nicholls, the group has grown significantly over the years from one branch in Banbury to over 25 sites covering Oxfordshire, Warwickshire, Northamptonshire, and Dorset. The business offers a wide range of building and plumbing materials and kitchen and bathroom suites and accessories. In 2014, it acquired J&B’s Plumbing & Heating based on the South Coast, adding an additional 8 Plumbing & Heating branches and 5 Bathroom Showrooms.

MKM has acquired builders’ merchants branches in Banbury, Bicester, Kidlington and Rugby together with a distribution centre at Long Hanborough, adding to its 100-plus network.

This transaction also marks the retirement of Philip Nicholls (Director) and David Hebdon (CEO), with Andrew Nicholls (Executive Chairman) leading a management buy-out of the remaining branches alongside four Directors, encompassing the company’s plumbing and heating division.

Advisers to John Nicholls Trading from finnCap Cavendish were Peter Gray (Partner), Mike Dinsdale (Director) & Daniel Dwyer (Associate).

Mike Dinsdale, Director at finnCap Cavendish, said:

“We are delighted to have advised the Shareholders on this deal. In a rapidly consolidating sector, this transaction sees MKM continue its regional expansion strategy, acquiring five Nicholls builders’ merchant branches in fantastic locations that are known for providing excellent service to customers in the local community.”