Norman Group

Deal Summary

Catalyst advised Norman Group (Normans) on the sale of its builders merchanting operations to Jewson, a subsidiary of Saint-Gobain SA.

Norman is the leading builders merchant in Jersey. Its history dates back to 1840 and includes five generations of Norman family ownership, with 3i having invested 26 years ago alongside the current generation of the family management team.

The business is a full mixed merchant with sales of more than £40 million, operating from two sites in Jersey and one in Guernsey, supplying commercial and residential building contractors and employing 280 staff.

What difference did we make?

We were introduced to the business in 2003 following the sale of Jackson Building Centres by 3i who were a shareholder in both businesses.

We initially presented to the board on their exit options and then continued to provide ad hoc advice until an unsolicited approach was received by Jewson.

Having sold a number of builders merchant businesses we were able to work quickly with Normans to present the business and the potential synergies to Jewson. This enabled a full price offer to be negotiated without exposing the business to a wider auction process which would have been distracting and potentially damaging for the business.

There were several major pension and environmental issues to solve. However, through diligent analysis and robust negotiation these issues were resolved and a market leading value achieved for the shareholders.