In 1922, Samuel Goodchild established a builders merchant business in his own name. In 1940 the company began trading as G&S Allgood - incorporating the initials of the first names of its partners, George and Samuel. The Second World War was a dormant phase for the company and not long afterwards Samuel Goodchild decided it was time to retire.

The seed of the Allgood we know today was sown in a telephone call Mr Goodchild made in September 1947. At the time G&S Allgood was supplying the ironmongery requirements to Leslie Carter-Clout and his partner George Tysoe. They had a building firm called Clout & Tysoe, for whom Derrick Carter-Clout, Leslie's son, had been working since he returned from serving in India during the war. Samuel Goodchild called Leslie Carter-Clout to ask if Derrick would like to take over the business.

Meanwhile George Tysoe's only daughter, Beryl, had married Paul Shirville after his wartime service in the Middle East. Paul Shirville and Derrick Carter-Clout had met at the wedding and their next encounter was when they walked into their new company at 48 Neal Street, London WC2 on January 1st 1948. Allgood had been acquired by Leslie Carter-Clout and George Tysoe on their behalf, with all loans to be paid back over the next few years. Turnover in the first year was £29 000.

At 48 Neal Street - an old sausage factory with a clean, minimalist appearance - where Allgood occupied the basement and ground floors, Derrick and Paul quickly proved to be a dynamic pairing. Derrick threw himself into sales whilst Paul thrived on the administration.

One of Derrick's first visits was to Peter Trollope of Trollope & Colls Ltd. The two had met whilst at military hospital in India during the war. Out of this visit came Allgood's first contract with Trollope & Colls - to supply ironmongery for a Ladies Club in Lower Sloane Street, designed by architect Owen Campbell Jones.

Samuel Goodchild stayed on for 2 years to help the transition to new ownership. Until 1948 the focus had been on selling ironmongery to builders; now Derrick decided to meet with architects - identifying an exciting avenue for expansion of the business.