Inflexion Private Equity has acquired a minority stake in builders merchants Huws Gray.

Huws Gray was founded in 1990 in Anglesey and now has 57 trading sites and almost 800 staff. Inflexion’s backing coincides with the business’s acquisition of Cumbria-based builders merchants Penrith Building Supplies.

The company is majority owned and will continue to be run by its management team led by John Llewelyn Jones and Terry Owen.

With investment from Inflexion, Huws Gray will work to further consolidate the builders merchants market and expand its reach across the UK.

“The business has been driven by an exceptional management team, which has grown from a standing start three decades ago, to become one of the largest independent builders merchants in the UK,” Inflexion managing partner Simon Turner said. “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.”

Stuart Robinson, Richard Booth, Nick Rosenberg, Fabrizia Rizzi and David Whileman worked on the deal for Inflexion. Catalyst Corporate Finance advised Inflexion.

Inflexion has made a number of investments so far this year, picking up live sports broadcast graphics producer Alston Elliot, London-headquartered legal rankings directory Chambers and Partners, and pet supplements producer Lintbells.

The firm also made its first platform investment outside the UK, backing Dutch outsourced IT recruitment and training services business Calco Group.