Independent Builders Merchant Group - Part 26A Restructuring Plans

The Independent Builders Merchant Group (IBMG), the largest building materials distributor in the South of England, formed through more than 20 acquisitions made since the start of 2018, has launched 13 inter-conditional Part 26A restructuring plans that seek to recapitalise the business and hand over control to senior lenders Ares Management and Farallon Capital Europe.

The plans will also compromise certain liabilities, including amounts owed to landlords as well as bank indebtedness.

IBMG said the restructuring “aims to strengthen operations, facilitate new funding, and position the business for future growth.” 

Macfarlanes and Interpath are understood to be advising.