Capital Law has advised the managers of Parker Building Supplies in Cairngorm Capital’s acquisition of the business from its founder and Managing Director, Tom Parker.
Cairngorm Capital will now seek to expand Parkers through a combination of organic growth and acquisitions. The aim is to transform the scale of the business, to become a market leader in the builders’ merchant sector in southern England. Headquartered in Polegate, East Sussex, the company generated revenues of £67m in 2017 from 15 locations across Sussex and Kent.
Four new senior managers are joining the firm, led by Cairngorm Capital operating partner John Declerck. John will become Executive Chairman to support the established management team. The team will be further supported by Chris Maityard and Iain Bell, joining as Managing Director and Chief Operating Officer respectively.
John Declerck said “Capital Law’s experience of advising private equity-backed management teams really showed on this deal. They were calm and efficient, commercial and collaborative. Their support was much appreciated.”
Alys Carlton of Capital Law said “It is always a pleasure to work on Cairngorm’s transactions, and this was no exception. John has a wealth of experience in the industry, and he and the wider management team have ambitious growth plans for Parkers. We wish them all the best."
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Cairngorm Capital Partners has bought Parker Building Supplies, an independent builders’ merchant based in the south east of England from its founder and managing director, Tom Parker, who is retiring. This is Cairngorm Capital’s 13th proprietary transaction since July 2016. Cairngorm Capital said it wants to expand Parkers through a combination of organic growth and acquisitions.