Brooks Group has acquired Kildare Builders Providers in Kildare Town, bringing the Brooks network to nine outlets in seven counties.
Brooks Group has been an institution in the Irish construction industry since its inception in the late 1700s. It returned to Irish ownership in 2021 when the timber and builders’ merchants was purchased by Murdock Builders Merchants, a family-owned business in Newry.
The company said it expects turnover to exceed €125m in 2022.
Kildare Builders Providers was established in 2006 by John Crofton and Conleth McCarthy, with the latter’s Finn McCarthy & Son Ltd funding the venture and owning 75% of the equity.
The company was hammered by the fallout from the property crash and its 2016 accounts filing stated “the company is insolvent at the balance sheet date”.
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In June 2016, Conleth McCarthy exited the business and during the year KBP restructured its bank loans, bank overdraft and inter-company loans.
The intercompany write-off to Finn McCarthy & Son Ltd was €520,000 and bank debt of €367,000 was written off. The result was the shareholders’ deficit improving from €1.5m in December 2015 to a deficit of €100,000 a year later.
John Crofton (65) steered Kildare Builders Providers to a positive net worth of €546,000 in December 2021, with the company booking a net profit of €220,000 last year. Period-end trade debtors were €440,000, balance sheet cash was €705,000 and total liabilities amounted to €1.1m.
Eddie Kelly, Brooks Group executive chairman, commented: “Kildare Builders Providers is a well-known business in Kildare and surrounding areas. Together with his team, John has built a fine business and we are delighted to welcome them to the Brooks Group.”
John Crofton said that being part of Brooks will enable KBP a greater range of products, services and value.
Brooks Group employs 195 people across nine branches, including three in Dublin (Bluebell, Glasnevin and Sandyford) and one each in Kildare Town, Wicklow (Bray), Cork (Togher), Galway (Ballybrit), Sligo and the Midlands (Tullamore).
Photo: John Crofton (right) and Eddie Kelly. (Pix: Peter Houlihan)
