Cairngorm acquires Helix Tool Company

The GP is currently investing from Cairngorm Capital II, which closed in April 2017 on its hard-cap of £107.5m. The fund typically invests in mid-market companies with operating profits of £2-20m.

The transaction forms part of Cairngorm's plans to create a nationwide full-service maintenance, repair and overhaul (MRO) group named MRO+ Solutions. It comes seven months after the acquisition of Grimsby-headquartered MJ Wilson Group.

Both companies will continue to operate independently following the transaction, though they will look to capitalise on potential efficiencies due to their increased scale and networks.

Following the deal, Cairngorm has appointed former Cromwell Group CEO and president Michael Kerins as a non-executive director at MRO+ Solutions.

Barclays provided banking facilities to support the transaction.

Company
Founded in 1994 and headquartered in Leeds, Helix produces cutting tools for drilling, milling, threading, spindle tooling, grooving and turning. It has a headcount of 17.

People
Cairngorm Capital Partners – Amit Thaper (investment director).
Helix Tool Company – Charles Robinson, Louise Robinson (founders).

Advisers
Equity – PwC (corporate finance, tax); Gowling (legal); JLT (insurance due diligence).
Company – Dow Schofield Watts (corporate finance); Walker Morris (legal).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• Cairngorm Capital
• Build-up
• PwC
• Dow Schofield Watts