Cairngorm acquired Chandlers

The firm will merge Chandlers with its existing portfolio companies Parker Building Supplies, Stamco and Fairalls to form a new holding company known as the Independent Builders' Merchant Group. Chandlers managing director Andrew Cope will join the board of the new company and Parker CEO Chris Maityard will lead it.

For the acquisition of Parker, Cairngorm drew capital from its second-generation fund, which closed on £107.5m in 2017. The firm is currently raising its third fund, according to Unquote Data.

This proprietary transaction marks the firm's 22nd since 2016.

The combined company is expected to generate revenues of £180m and will employ 750 people.

Chandlers generates revenues of £60m.

Company
Founded in 1993, Chandlers is a distributor and wholesaler of building materials to the construction industry. Headquartered in Ringmer, the company employs 230 staff in 14 branches.

People
Cairngorm Capital – Alex Bayliss (managing director).
Parkers Building Supplies – Chris Maityard (CEO).
Chandlers Building Supplies – Andrew Cope (managing director).

Advisers
Equity – PwC (financial due diligence, tax); Gowling WLG (legal); JLT Marsh (insurance due diligence).
Company – DMH Stallard (legal); RSM (financial due diligence, tax).

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• Topics
• Buyouts
• UK / Ireland
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• Cairngorm Capital
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• Build-up
• Buy-and-build