London and Edinburgh, 3 July 2023
Cairngorm Capital Partners LLP (Cairngorm Capital) is delighted to announce that its portfolio company, Independent Builders Merchant Group (IBMG) has acquired MS Roofing Supplies Limited (MSR), strengthening the presence of its specialist roofing division in Sussex and Surrey.
Established in 2003, MS Roofing Supplies is a leading independent roofing merchant with a reputation for providing high-quality products, outstanding service and competitive prices. Operating from five branches in Brighton, Chichester, Crawley, Portslade and Worthing, MSR provides a comprehensive range of products for both pitched and flat roofs, serving customers across the South of England.
MSR’s highly complementary branch network and product range provide IBMG’s roofing division with further geographic expansion, product extension and a strong platform for further growth. Culturally, both companies share a common vision, independent ethos and commitment to providing the highest standards of customer service.
This partnership secures the right custodian for MSR – one with a shared vision and values. Tony Siriano, MSR’s Managing Director, will be retiring from the business, following a short handover with Danny Spokes, Managing Director for IBMG’s roofing division, to ensure MSR’s successful integration into the Group.
Danny Spokes, Managing Director of IBMG’s roofing division said, “We are delighted to welcome MS Roofing to the Group. This an exciting time for IBMG; we have the scale, the range of products and services, and specialist expertise to ensure a successful partnership.”
Tony Siriano, Managing Director of MS Roofing commented, “It has been a great honour to lead the employees of MS Roofing through the years, and having made the decision to retire, it seemed logical to find a partner who would ensure MS Roofing fulfils its potential. I believe the partnership with IBMG will achieve this. I am confident that this acquisition will provide an excellent home for both our customers and our people who will thrive within a highly respected, independent roofing and builders merchant focused on excellent customer service.”
Martin Stables, CEO of IBMG said, “Making selected acquisitions to enhance its current offering and increase its geographic reach is part of IBMG’s strategic plan. IBMG will continue to look for more opportunities to complement its existing business and bring our differentiated and comprehensive offering to current and new customers.”
IBMG was advised by Gowling (legal), RSM (financial due diligence and tax), and Simon Funnell (property). MSR was advised by Kreston Reeves (M&A advisory) and DMH (legal).
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Notes for editors
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in privately-held, strongly performing, mid-market growth companies with long-term growth potential, operating in manufacturing, distribution and services industries. The firm’s goal is to build and realise value through growth and performance improvements. Cairngorm Capital’s unique mix of sectoral expertise and investment skill enables it to be actively involved in the strategy and operational focus of portfolio companies, partnering with management teams to grow revenue, enhance margins, improve cash flow or consolidate industry leadership positions.
Cairngorm Capital’s current portfolio includes majority owned stakes in:
EMED Group
Independent Builders Merchants Group
MRO+ Solutions Group
Millbrook Healthcare
National Timber Group
PaintWell
SageHome
Sentry Fire Safety Group
Verso Wealth Management
Whyte Bikes
Independent Builders Merchants is the largest independent merchant group in the South of England operating through five core divisions – Builders Merchants, Timber, Plumbing & Heating, Roofing and Electrical – primarily serving trade customers with an extensive range of products. IBMG has 182 branches extending from Penzance to Margate, generating revenues in excess of £650 million and is supported by over 2,200 colleagues.
independentbm.com
MS Roofing Supplies is a leading independent roofing merchant in Sussex, with a reputation for providing high-quality products, outstanding service and competitive prices. Operating from five branches in Brighton, Chichester, Crawley, Portslade and Worthing, MSR provides a comprehensive range of products for both pitched and flat roofs, serving customers across the south of England.
msroofingsupplies.co.uk
View the pdf version: Cairngorm Capital/MS Roofing Release 03.07.2023 pdf
