- The companies will have combined revenues of £55 million
- PaintWell is a specialist paints distribution company
- Cairngorm will develop PaintWell via organic growth, new branch development and acquisitions
Cairngorm Capital Partners portfolio company PaintWell, a specialist paints distribution company, bought Kent Blaxill Group.
The combined companies will have 46 branches, 250 employees and revenues of £55 million ($65 million; €63 million).
Kent Blaxill is a family-owned decorating, glass and building products distribution company. It was founded in 1838 and is headquartered in Colchester, England. The firm has 23 decorating and builders’ merchants across the east and south-east of England.
Cairngorm’s goal is to “develop PaintWell through a mix of organic growth, new branch development and selective acquisitions”, said John Naylor-Leyland, who led Cairngorm Capital’s team on the investment, in a statement.
“We have been working to identify suitable partners with strong reputations and performance that pair well with PaintWell,” added Naylor-Leyland. “Kent Blaxill is an excellent example of what we look for – a company with a strong, service-led culture, highly complementary branch network and product range that provide geographic expansion and a strong platform for further growth.”
The acquisition allows shareholders from the Kent and Blaxill families to exit the business, although some members of the families are re-investing in the larger PaintWell business. Kent Blaxill’s management team will stay with the firm.
PaintWell is headquartered in the Wirral, England.
Cairngorm invests in private mid-market growth companies in the UK, focusing on the manufacturing, distribution and services industries. It has offices in London and Edinburgh.