Cairngorm-backed Stevenswood bolts on Sameday

The Scotland-based company will look to expand its activities in the south-west of the UK.

The group will have 37 branches across the UK, with revenues of more than £45m and approximately 180 employees. Following the acquisition, Sameday managing director Mike Woodend will join the Stevenswood senior management team to advise and support the company's growth strategy. 

Cairngorm stated the deal is its eighth since July 2016. It was sourced off-market, according to the GP.

Previous funding
Cairngorm acquired Stevenswood (formerly known as Polyframe) in its maiden deal in mid-2016. The GP supported and rebranded Polyframe, which later acquired WB Group in October 2016 and rebranded to Stevenswood. It subsequently bolted on Customade Group in February 2017 and Truemans in March 2017.

Company
Sameday is a trader and distributor of windows, doors, conservatory roofs, orangeries and trade plastics in the south-west region of UK. The company is based in Cheltenham, was founded in 2006 and employs 20 people.

People
Stevenswood – John Declerck (group chief executive).
Sameday Holdings – Mike Woodend (managing director).
Cairngorm Capital – Alex Bayliss (investment director).

Advisor
Equity – PwC (financial due diligence, tax); Bond Dickinson (legal).
Vendor – Napthens (legal).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• Acquisition finance
• Build-up