A team of lawyers led by Simon Pilling and James Cook from Bond Dickinson’s Leeds office have advised Cairngorm Capital, and Cairngorm Capital’s investee company, Stevenswood Trade Centres Limited (Stevenswood), on the acquisition of Truemans Holdings Limited.
This transaction advances Stevenswood’s ambition to develop a national network of trade counters and completes strategic gaps in its presence in England. The new combined group will continue to be headquartered in Livingston and will have over 30 branches across the UK, generating revenues of over £40m and employing over 165 people.
Following earlier investments in specialty window and door distribution business Stevenswood, and leading window and door fabrication businesses Polyframe, WB Group and Customade, this acquisition is Cairngorm Capital’s fifth proprietary, off market transaction since July 2016. Bond Dickinson have advised on each transaction. This latest investment is consistent with Cairngorm Capital’s strategy to invest in well-performing UK companies to support ambitious management teams in driving transformation, introducing new technology and product ranges and extending geographic reach.
Simon Pilling, Partner at Bond Dickinson said: “We are delighted to have helped the Cairngorm Capital team and Stevenswood complete this latest transaction in support of their strategy to grow their trade counters business nationwide and we look forward to helping further as they continue to pursue further opportunities to grow their business.”
Alex Bayliss, Investment Director at Cairngorm Capital said: “We have established a strong relationship with Simon and James and the rest of the Bond Dickinson team. They really understand the way we work, the pace at which we look to execute on transactions and what’s important to us. They consistently provide us with commercially minded high quality legal advice.”