Current investments
EMED Group is the UK’s leading specialist healthcare transport provider. The Group was formed with the merger of E-zec and ERS and has established a compelling proposition to local communities across four divisions: EMED Patient care, EMED Community care, EMED Safe care & EMED Courier services.
Cairngorm Capital initially invested in E-zec in May 2021, backing Craig Smith as CEO to transform the company by hiring 25 new senior management across People, Operations, Fleet and Business Strategy. E-zec mergerd with ERS Medical on 1 February 2023 to establish a group of nearly 3,000 staff, 1,100 vehicles and 45 operating depots across the UK and with revenues greater than £110m.
The group supports the movement of over 2,500 patients a day with the majority being new patients to E-zec services.
The development of specialist SEN, Courier and Mental Health services sees highly skilled staff provide the highest level of care and support to wider communities. A data rich, technology enabled service offering underpins a patient first, logistics second business proposition.
Cairngorm Capital’s investment builds on investments under the Ageing in Place thesis and combines specialist sector operational expertise with financial support from Cairngorm Capital.
Visit the EMED Group website at www.emedgroup.co.uk
For more information on the transaction, please see the E-zec Medical investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 10.05.2021.pdf
IBMG is the largest building materials distributor in the South of England, formed through more than 20 acquisitions made since the start of 2018.
While IBMG has retained many of the strong local brands across its business, it operates as one integrated company led by a single management team. IBMG primarily serves trade customers operating in the repair, maintenance, and improvement of residential property.
The group operates through five divisions, with the core builders merchant branches supported by a network of specialty plumbing & heating, roofing and electrical branches, and a dedicated timber processing and distribution business.
IBMG today has over 180 branches operating across the south of England, with combined revenues exceeding £600m and over 1,700 employees.
Visit the IBMG website at www.independentbm.com
Formed through the acquisition of two, founder-owned businesses, starting with Millbrook Healthcare in July 2019 and expanded with the acquisition of Ross Care in January 2021, the Millbrook Healthcare Group (Millbrook) is a leading UK provider of equipment, adaptation, and technology solutions to keep people living safely and independently in their own homes, where outcomes and wellbeing are better, and out of more expensive forms of care.
Since its investment, Cairngorm Capital has focused on integrating the acquired businesses, investing in new systems, and positioning the Group at the forefront of the fast-growing technology enabled care market, where Millbrook has established a differentiated proposition and early leadership position.
In May 2023, Cairngorm Capital took the decision to divest the Group’s non-core, wheelchair services division, trading under the Ross Care brand, to Netherlands-based mobility services provider Medux, realising a return of 2.7x invested capital.
Visit the Millbrook Healthcare website at millbrookhealthcare.co.uk
For more information on the transaction, please see the Millbrook Healthcare acquisition press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 22.07.19 pdf
National Timber Group is the largest specialist timber processing and distribution group in the UK formed through nine acquisitions in the last five years.
The Group operates through two divisions, Specialist Distribution and Specialist Manufacturing. The Specialist Distribution business supplies timber products from branches across the UK supported by value-added processing at two national production centres. Specialist Manufacturing produces engineered timber roofing solutions and fire-rated timber door-sets. The Group serves trade customers operating in the repair, maintenance and improvement of residential housing, in addition to housebuilders and contractors, and is a favoured supplier of large-scale infrastructure projects.
The Group has retained a number of strong customer-facing brands but operates as one integrated business under a single management team with deep industry expertise.
Our strategy is to create the leading UK consolidator in a fragmented market and a scalable platform for continued organic and acquisitive growth. We believe the increasing use of timber as a building product is an enduring theme due to its sustainable credentials and importance in modern methods of construction.
NTG today has over 60 branches and processing sites across the UK, with revenues of more than £300m and over 1,200 employees.
Visit the National Timber Group website at www.nationaltimbergroup.com
For more information on the transactions, please see the Thornbridge acquisition press release, NYT acquisition press release, Rembrand acquisition press release and Arnold Laver acquisition press release.
PaintWell formed through the acquisition of three family-owned businesses – Bromborough Paints, Kent Blaxill, and Promain – is a specialist, independent decorators’ merchant with a rapidly growing network of more than 52 branches stretching from Cumbria to Kent, supported by an integrated industrial paints offering and ecommerce platform www.paintwell.co.uk.
Cairngorm Capital’s investment has already enabled PaintWell to rebrand, accelerate its branch rollout programme, invest in best-in-class technology and systems, and enter new verticals, with plans to grow to more than 100 branches over the next five years.
Cairngorm Capital’s first investment in PaintWell was made in March 2021, with the Kent Blaxill and Promain acquisitions completed in November 2022.
Visit the PaintWell website at paintwell.co.uk
For more information on the transaction, please see the Bromborough Paints investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 19.03.2021.pdf
SageHome is an aging in place US home services business that creates a functional and safe living space that allows US seniors to remain independent in their homes. SageHome offers a rapid service to homeowners who are proactively preparing their homes to allow them to age-in-place comfortably, and also provides services to individuals who are transitioning from care facilities to their own home.
Cairngorm Capital is supporting SageHome’s management to achieve its goal of providing a full service, national solution to the market, and in doing so enable seniors and people with disabilities to live independently at home and help to reduce hospital admissions and readmissions across the US.
SageHome’s first acquisition, New Bath Today Inc., is an award-winning bathroom renovation specialist, with a particular focus on the wet area of the bathroom – one of the key risk areas in the home for aging seniors. Since the initial acquisition, Cairngorm Capital has supported the management team by investing in best-in-class technology and systems, executing on a new state organic roll-out model, and completing two bolt-on acquisitions to expand geographically.
Cairngorm Capital’s investment in SageHome was made in April 2022.
Visit the SageHome website at www.sagehomenow.com
For more information on the transaction, please see the SageHome investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 02.05.22 pdf
Sentry Fire Safety Group is a specialist manufacturer of timber fire and security door-sets for the social housing, public sector, commercial and residential markets. Operating nationally from two manufacturing facilities in Doncaster and Birmingham, Sentry Fire Safety Group has established a strong reputation for manufacturing products that meet the most rigorous quality and fire certification standards.
We have invested in the Sentry Fire Safety Group to ensure that the company is well equipped to respond to regulatory change and increased market demand, substantially expanding manufacturing capacity and extending geographic distribution.
Sentry Fire Safety Group’s management team has received strategic and operational support from an experienced Cairngorm Capital Executive Chairman. Our operational experts have also helped strengthen sales, marketing, and brand awareness to drive transformational growth. Cairngorm Capital supported the acquisition of E & S W Knowles by Sentry Fire Safety Group in August 2022, expanding into the education, health care and student accommodation fire-door markets.
Cairngorm Capital’s investment is its first in the fire protection sector and combines specialist sector operational expertise with financial support from Cairngorm Capital.
Visit the Sentry Fire Safety Group website at sentryfiresafetygroup.co.uk
For more information on the transaction, please see the Sentry Doors investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 22.02.2019 pdf
Verso Wealth Management is a leading tech-enabled UK wealth management group with £2bn of assets under management and an established national footprint.
Verso was founded in 2021 after the initial investments in Whitefoord LLP and Munnypot Limited, merging the investment management expertise of Whitefoords with the award-winning Munnypot technology platform. The group has since completed five acquisitions, positioning Verso as a leading vertically integrated wealth management platform.
Verso is using digitisation to provide clients with a compelling service, and to enable advisors to maximise efficiency, reduce compliance risk and increase revenue. A core part of the strategy revolves around effective segmentation of clients across digital, desk based and F2F, in doing so, freeing up advisor capacity to focus on high-margin clients and drive new business. Cairngorm Capital will continue to support Verso’s management to build a leading digital wealth management group through a buy and build programme to build additional scale in the sector
Cairngorm Capital’s investment in Verso was made in September 2021 and is the fifth investment from its 3rd fund, Cairngorm Capital Partners III LP.
Visit the Verso Wealth Management website at www.versowealthmanagement.com
For more information on the transaction, please see the Verso investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 15.07.21 pdf
Whyte Bikes is a premium brand in the E-Bike, Mountain Biking, Adventure/Commuter, and Gravel bike markets. It is an award-winning British bicycle company with a focus on performance and design: “Superb aesthetics combined with the best handling”.
The partnership with Cairngorm Capital is allowing Whyte Bikes to increase its production volumes, to further develop its product portfolio and to ensure that the company is well positioned to capitalise on the growing E-Bike category.
Management is supported by an experienced Non-Executive Chairman and Cairngorm Capital’s Operating Partner team. Cairngorm Capital is sharing expertise in procurement, brand management and international growth to develop Whyte’s brand in the UK and to facilitate entry into new territories.
Cairngorm Capital’s entry to this sector demonstrates our belief that changing lifestyles, environmental considerations, and government policy will increase participation in cycling over the long term. Cairngorm Capital’s investment in Whyte Bikes was made in February 2021.
Visit the Whyte Bikes website at whytebikes.com
For more information on the transaction, please see the Whyte Bikes investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital/Whyte Bikes Press Release 01.03.2021.pdf.
Realised investments
Founded in 1972, MJ Wilson is a leading independent distributor of Maintenance, Repair and Overhaul (“MRO”) components. The company sells technical Process and Instrumentation products (such as valves, flanges and gaskets) from five regional branches. It employs highly-trained staff who serve a diverse range of long-standing customers.
Cairngorm Capital invested in MJ Wilson in January 2018, as the first in a series of investments within the MRO industry to create a new national and full-service business led by highly experienced industry executives. Through a series of accelerated investments in technically focused companies across the MRO product range, the aim is to develop the MRO platform to become a UK-wide industry leader.
In collaboration with an expert management team, MJ Wilson will serve as the initial platform for a national, technically focused, MRO business that serves small-to-medium size enterprises. Our strategy involves:
- Consolidating leadership through further acquisitions
- Broadening product and service offerings across bearings, fluid power and industrial supplies
- Achieving revenue synergies through cross-selling to an enlarged group
- Collaborating with supply-chain partners to drive efficiencies
- Enhancing business development and sales initiatives to accelerate growth
For more information on the transaction, please see the MJ Wilson acquisition press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 05.02.2018 pdf