Lords Group Trading PLC on Monday said it has bought CMO Group Ltd for around £1.8 million.
The London-based distributor of building materials took ownership of all CMO’s trade and assets, following a pre-pack administration process. CMO posted revenue of £52 million in 2024. Back in March, CMO shareholders backed a resolution to delist from AIM and re-register as a private company, after which the CMO’s shares were cancelled on London’s junior market.
Originally called Construction Materials Online, CMO is a Plymouth, England-based online-only retailer of construction products, which ‘has brought true disruption’ to the sector, according to Lords.
‘The acquisition brings together Lords’s infrastructure and merchanting expertise with CMO’s digital-first online model and reflects Lords’ continued focus on growth, diversification, and digital innovation in the construction materials distribution sector,’ Lords said.
Around 120 CMO staff will join Lords as part of the merger. Lords noted the lead-up to Monday’s acquisition may have impacted stakeholders such as creditors and suppliers.
The firm insisted that CMO’s administration process was carried out ‘with the intention of preserving as much business continuity, employment, and value as possible’. Lords did not provide further details on CMO staff cuts. Instead Lords insisted that ‘all trading activity continues under the new ownership without interruption’.
CMO’s Chief Executive Dean Murray commented: ‘We have built a strong, digitally-led business over the past 15 years, and in Lords we have found a partner that not only understands our model but shares our ambition.’
‘CMO brings a well-established digital platform, strong customer reach, and a specialist product-led approach that complements our own. This partnership allows us to blend traditional merchanting strengths with cutting-edge digital capabilities,’ added Lords CEO Shanker Patel.
Lords shares rose 16% to 40.00 pence each on Monday afternoon in London.
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