London, 22 February 2019
Cairngorm Capital Partners LLP (Cairngorm Capital) is pleased to announce that its second fund, Cairngorm Capital II, has acquired Sentry Doors Holdings Limited (Sentry Doors). This transaction marks Cairngorm Capital’s entry into the fire protection sector.
Established in 1989, Sentry Doors is a specialist manufacturer of timber fire and security door-sets for the social housing, public sector, commercial and residential markets. Operating nationally from a 32,000 square foot facility in Doncaster, Sentry Doors has established a strong reputation for manufacturing products that meet the most rigorous quality and fire certification standards. Its commitment to regulatory compliance and high manufacturing standards has resulted in independent third party accreditations from BWF Certifire and BM Trada Q-Mark1.
Cairngorm Capital’s investment will enable Sentry Doors to accelerate its growth and consolidate its position as the industry leader in the timber fire and security door-set market. Sentry Doors intends to expand its manufacturing capacity substantially and extend geographic distribution. Sentry Doors is well positioned for surging demand for its products, driven by the increased focus on regulatory compliance.
The acquisition of Sentry Doors is Cairngorm Capital’s 18th proprietary transaction since July 2016. The transaction was triggered by the decision of Founder and Managing Director, Gordon Yates and his wife, Carolyn, to be less involved in the day-to-day running of the business. Gordon will remain with the business in an advisory capacity. Ty Aziz, Sentry Doors’ long standing General Manager and Gordon’s deputy, is promoted to Managing Director. He will be supported by a strengthened board led by Jon Gatfield, who joins as Executive Chairman. Jon has considerable experience in manufacturing and logistics, including senior roles at Customade Group and National Timber Group.
Gordon Yates, Founder and Managing Director said, “I’m delighted that Sentry Doors and Cairngorm Capital will be working together, as our sector is on the cusp of considerable change. Although I am beginning to think about retirement, it was really important to find the right partner who had the vision and ambition to guide Sentry Doors to fulfil its potential. I wanted an investor who would be a good custodian of Sentry Doors in the future and who would provide opportunities for our exceptional employees. Cairngorm Capital has a really strong track record in accomplishing this so I am confident that Sentry Doors will go from strength to strength.”
Jon Gatfield, Executive Chairman said, “I’m delighted to be invited to chair a strong business with significant opportunities for transformational growth. In particular, I am looking forward to working closely with Ty and the rest of the management team as we build on the great company that Gordon, Carolyn and the team have created.”
This transaction was led by Stuart Whiteford, Investment Director at Cairngorm Capital, who added, “Sentry Doors is one of the most knowledgeable and trusted names in the industry, with all of the attributes that are important to us when we partner with a business – a compelling product range, deep technical know-how and exceptional customer service. We are particularly interested in firms that are technically focused, experts in their field, add value to their customers and possess strong growth prospects. We are delighted to support Sentry Doors in its next stage of growth.”
Cairngorm Capital was advised on this transaction by PwC (financial and tax), CiL (commercial), Addleshaw Goddard (legal), Vail Williams (property) and JLT Group (insurance). Sentry Doors’ shareholders were advised by BCMS (financial), Smith Craven (financial) and Mills & Reeve (legal).
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Notes to editors
- BWF Certifire and BM Trada Q-Mark are independent third party certification schemes, which comprise fire tests and verification of a fire door’s design, performance, manufacturing process and quality assurance from manufacture to installation. Certifire is recognised by regulatory authorities worldwide as an international mark of fire safety.
Sentry has also achieved ISO 9001 and ‘Secure by Design’ accreditations.
- Sentry Doors is a specialist manufacturer of timber fire and security door-sets for the social housing, public sector, commercial and residential markets. Operating nationally from a 32,000 square foot facility in Doncaster, it has established a strong reputation for manufacturing products that meet the most rigorous quality and fire certification standards. Its commitment to regulatory compliance and high manufacturing standards has resulted in independent third party accreditations from BWF Certifire and BM Trada Q-Mark.
- 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. 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 now includes majority owned stakes in:
The National Timber Group
Parker Building Supplies
View the pdf version: Cairngorm Capital Press Release 22.02.2019 pdf