
Cairngorm-backed Parker Building Supplies buys Stamco
Cairngorm Capital Partners has supported the acquisition of Sussex-based building materials supplier Stamco for its portfolio company Parker Building Supplies.
The bolt-on comes 15 months after Cairngorm's acquisition of Parker, which was drawn from Cairngorm Capital II.
The GP said the acquisition is the 19th proprietary transaction it has sourced since July 2016. The sale was initiated by Stamco's owners Mike Cullis and Roger Brightiff deciding to retire.
Stamco's addition boosts Parker's headcount to 450 and gives the group combined sales of more than £100m.
Company
Stamco was founded in 1957 and is headquartered in Hastings. It supplies timber to builders from its five branches in Eastbourne, Hastings, Hove, Worthing and Rye. The company employed 180 people and generated revenues of £32m in 2018.
People
Cairngorm Capital – Alex Bayliss (managing director).
Parkers Building Supplies – Chris Maityard (managing director).
Stamco – Roger Brightiff (owner).
Advisers
Equity – PwC (financial due diligence, tax); Gowling WLG (legal); CIL (commercial due diligence); JLT (insurance due diligence); Vail Williams (property due diligence); Collins M&A Consultants (corporate finance); MDW Capital (debt advisory).
Vendor – Edwin Coe (legal); LMDB (tax).
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