Following the decision of Bromborough’s owner Neville Wellings to retire, Cairngorm Capital is acquiring the business and partnering with the incumbent management team in an MBO, led by Giuseppe Alfonso (Finance Director), John Ferrington (Operations Director) and Dan Peacock (Commercial Director). They will be supported by a strengthened board led by Jon Gatfield, who joins as Chairman to aid the management team in delivering their strategic vision. Jon has considerable experience in manufacturing and logistics, particularly in the building products sector, including senior roles at National Timber Group and Sentry Doors.
Cairngorm Capital’s investment is intended to enable Bromborough to capitalise on its “significant market opportunities, allowing it to extend its geographical distribution with new branch openings and strategic acquisitions”. The first new branch will open in Warrington in a few weeks’ time. Additionally, in line with its buy and build investment philosophy, Cairngorm Capital will work with Bromborough’s executive team, sharing strategic and operational expertise to accelerate the growth and development of Bromborough’s ecommerce offering, www.trade1st.co.uk.
Cairngorm Capital’s investment was led by John Naylor-Leyland, Managing Director, who explained: “Bromborough demonstrates all that we like in a partner – the firm has strong performance and heritage, differentiated product range, outstanding reputation and an excellent management team. We look forward to partnering with Giuseppe, John and Dan over the next several years and investing further in the business to support continued geographic expansion in adjacent areas, through both new branch openings and complementary acquisitions.”
Neville said: “Bromborough has been a family enterprise since my father, Harry Wellings, founded it over 70 years ago. Given our heritage, my priority was to find a partner who would be a good custodian of Bromborough in the future, and one that Giuseppe, John and Dan could collaborate with to create opportunities for our exceptional employees. Cairngorm Capital have a really strong track record in accomplishing this so I am confident that Bromborough will go from strength to strength.”
Bromborough’s Directors, Giuseppe Alfonso, John Ferrington and Dan Peacock added, “We are really excited to be leading the MBO and partnering with the team at Cairngorm Capital. They have invaluable operational and investment experience in the building materials sector, which we look forward to drawing on. Together as partners, we will have the resources and the expertise to take Bromborough to the next stage in its development.”
The move is the latest in a series of investments in the merchant sector made by Cairngorm in recent years, following investment in the likes of Grant & Stone, the National Timber Group and the Independent Builders Merchant Group.