Cairngorm Capital Partners (Cairngorm Capital) has acquired Parker Building Supplies (Parkers) from its founder and Managing Director Tom Parker who is set to retire.
Cairngorm Capital is looking to expand the business through developing the training of the existing employees and expansion to the branches.
The investment firm, based in the UK, already has invested in a number of distribution and manufacturing businesses and had been looking to invest in the builders’ merchants industry before making the deal with Parkers.
As Tom will retire from the company, four new senior managers will join the company. John Declerck, Cairngorm Capital Operating Partner, will become Executive Chairman, Chris Maityard will be Managing Director, and Iain Bell is joining as Chief Operating Officer. Finally, Stewart Harries joins as Finance Director.
Alex Bayliss, Managing Director of Cairngorm Capital, told BMN: “We want to create growth opportunities for the employees, open new branches and possibly make more acquisitions as well. All the terms and conditions for the employees will stay the same and our investment will create opportunities for them.
“We are big proponents of helping out employees with training and development. We have invested in a similar business over the last couple of years called Stevenswood, which is a trade counter business, and already we have put in place a number of training schemes over the last 18 months. We will have a similar focus on ensuring continuity, and increase training and development for the employees at Parkers.”
The acquisition took a couple of months from the initial proposal to final deal on 14th March. This is Cairngorm Capital’s 13th proprietary transaction since July 2016.
Tom said: “For 34 years, our priority has been to provide our customers with the best range of building products and outstanding customer service. Parkers has grown substantially in recent years and has the potential to achieve much more. This is the natural point for me to pass the company to new, trusted custodians who can deliver on its potential.
“The team at Cairngorm Capital has demonstrated considerable flexibility and integrity in completing this investment. Having a detailed understanding of their plans and knowing the team as I do, I am confident that Parkers is in good hands and will go from strength to strength.”