Chandlers Building Supplies and Parker Building Supplies have announced that they have merged, with the support of strategic partner, Cairngorm Capital. The new enlarged company has 37 branches, operating from the Midlands to the South East, with combined revenues of £180 million and over 750 employees.
With no overlap in branch locations and what is reported as a “highly complementary product range”, this merger is described as “strategically important” and “prompted by the existing shareholders’ desire to take the business to the next level” whilst offering both companies the opportunity for geographic expansion and to extend their product ranges.
Andrew Cope, Chandlers’ Managing Director will join the board of the new combined company as a Board Director. The senior management teams of both companies will merge under the leadership of Chris Maityard, Parkers’ Chief Executive, to scale the business and generate further growth, “ensuring that the company fulfils its potential”.
Chris Maityard, Parkers’ Chief Executive, said: “Our company is at a really exciting point in its development and is ready to capitalise on the numerous growth opportunities available to it. We have ambitious plans to fulfil but are able benefit from strong investor support, exceptional products, first-rate employees and a well-deserved reputation for superior service. I look forward to the next phase of its development.”
Andrew Cope, Chandlers’ Managing Director, added: “This merger is exciting and will deliver great things. I am looking forward to joining the Board of the wider business and working together with the Parkers’ Directors to develop the long-term strategy and future direction of the new company. We are completely aligned in our ambitions for the company and how we achieve them, as well as having a shared approach to product excellence and outstanding customer service.”
Fiona Perrin, Chair, welcomed Andrew to the Board adding, “We are delighted that we will benefit from Andrew’s insight and contributions to the Board, as the business undergoes the next phase of its growth.”
Established in 1993, Chandlers has 14 branches serving Sussex, Kent, Surrey, London, Essex and the West Midlands, including six specialist roofing supplies centres. Headquartered in Ringmer, East Sussex, it generates revenues of £60 million and employs over 230 people.
Parkers, together with its sister brands Stamco and Fairalls, is part of what is said to be the largest independent builders’ merchant group in the South East. From its base in Polegate, East Sussex, the group has 23 branches serving Surrey, Sussex and Kent, over 500 employees and combined revenues of £120 million.
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in well-performing, private mid-market growth companies in manufacturing, distribution and services industries, and has made a number of investments into the broader merchant sector in recent years.
Cairngorm Capital’s current portfolio now includes majority owned stakes in:
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