A private equity firm has struck its latest acquisition deal as it assembles a major building supplies operation in the south of England.
Edinburgh and London-based Cairngorm Capital has acquired Chandlers Building Supplies which operates across the South East and Midlands. It will merge Chandlers with its existing builders’ merchants brands, Parker Building Supplies, Stamco and Fairalls.
The enlarged company, which will be part of a holding company known as the Independent Builders’ Merchant Group, now has 37 branches operating from the Midlands to the South East, with combined revenues of £180 million and over 750 employees.
Chandlers is Cairngorm Capital’s 22 deal since July 2016 and its fourth in the builders’ merchant sector, following its acquisition of Parkers in March 2018, Stamco in June and Fairalls in July, which together created the largest independent builders’ merchant group in the south east of England.
The transaction was led by Alex Bayliss, managing director at Cairngorm Capital, who said: “We are working to build the leading independent builders’ merchant in the South East of England. Chandlers is an excellent company with a strong brand and an outstanding reputation with its customers. The merger with Parker Building Supplies is highly complementary, extending our presence and product range.”
Parkers and Cairngorm Capital were advised by PwC (financial and tax), Gowling WLG (legal) and JLT Marsh (insurance). Chandlers were advised by DMH Stallard on legal matters, and RSM on financial and tax matters.
