Investment firm acquires Parkers and says more takeovers will follow14 March 2018
Investment firm Cairngorm Capital Partners has acquired southeast-based merchanting group Parker Building Supplies (Parkers) in the latest stage of its ambitious growth plans.
The acquisition of the £67m turnover East Sussex-based merchant follows Cairngorm’s acquisition of Thornbridge Sawmills last year and the subsequent merger of Thornbridge with NYTimber. Cairngorm also recently announced a strategic investment/partnership with e-commerce business Building Supplies Online.
The acquisition of 15-branch Parkers, founded in 1984, was prompted by the retirement of founder and MD Tom Parker. Cairngorm is adding several senior managers to Parkers, led by Cairngorm operating partner John Declerck, who will join as executive chairman.
He will support the existing management team, including Stewart Pierce who will remain commercial director. Mr Declerck has over 20 years’ global executive experience at leading building products distribution companies, including Kingfisher and Home Depot.
Chris Maityard and Iain Bell will join as MD and chief operating officer respectively. They bring extensive building product experience from companies, such as Plumbase, Ridgeons and Wolseley. Stewart Harries joins as finance director.
“Having a detailed understanding of their plans and knowing the team as I do, I am confident that Parkers is in good hands and will go from strength to strength,” said Tom Parker.
Mr Declerck said the acquisition was the start of a new phase in Cairgorm’s development.
“Our goal is to increase our network of builders’ merchants over the next five years, to become a leading distributor of building products in the UK.
“We aim to achieve this through a mix of acquisitions, new site development and organic growth. We are interested in further opportunities that allow us to fulfil our plans for innovation and growth, to the benefit of our customers, employees and suppliers.”