Cairngorm Capital Case Studies

MRO+ Solutions Group case study

Cairngorm Capital is investing within the Maintenance, Repair and Overhaul (“MRO”) industry to create a national, technically focused MRO company within the UK called MRO+ Solutions. Alongside capital and strategic expertise, Cairngorm Capital is partnering with a team of experienced industry executives to create an industry leading business.

In 2018, the group acquired MJ Wilson, a leading distributor of Process Instrumentation and Pipeline Products, and Helix Tool Company, a leading independent cutting tools specialist offering a broad range of OEM components and technical advice. Continuing its planned investment program, in 2019 the group acquired Support Instrumentation Limited, a focused distributor of Siemens process instrumentation. The group now operates from seven sites, and alongside organic investment, continues to advance its accelerated investment programme in businesses across the MRO product range, with the goal of developing a UK-wide footprint.

Acquisition

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 close to UK industrial centres. It employs 60 highly-trained staff who serve a diverse range of long-standing customers across a range of end industries including Oil & Gas, Food & Beveridge and Pharmaceuticals.

Cairngorm Capital invested in MJ Wilson in January 2018, partnering with MRO+ Solutions and existing management teams to invest in the company and create best in class Sales & Marketing, Finance and IT functions to support the growth in the business.

Strategy

Our strategy involves:

  • Achieving revenue growth through investment in additional sales resource
  • Collaborating with supply-chain partners to become the partner of choice across the UK
  • Extending nationally through investment into new sites
  • Consolidating leadership through further acquisitions

Acquisition

Established in 1994, Helix Tool Company (“Helix”) is a leading independent cutting tools specialist offering a broad range of OEM components and technical advice that helps customers across a range of end markets increase productivity and lower costs. Located in a purpose-built facility in Yorkshire, Helix employs seventeen highly trained individuals that serve a diverse range of industries from Heavy Engineering to Medical.

Helix is the second acquisition by MRO+ Solutions which is seeking to invest in and grow technically focused MRO companies within the UK.

Strategy

In partnership with the existing Helix management, our cutting tools growth strategy includes:

  • Growing and extending customer relationships
  • Increasing market share through a range of planned investments and geographic expansion
  • Collaborating with supply chain partners to continue to offer leading cutting tool brands and accessory products
  • Seeking revenue synergies across the combined customer based between Helix and M J Wilson Group Limited, our first investment within the MRO industry

Acquisition

Established in 1992, Support Instrumentation Limited (“SIL”) is a process instrumentation company focused on implementing bespoke solutions for customers. Headquartered in Edenbridge, Kent, SIL provides a comprehensive service from design, product selection and project management, to automation and process control. It operates across a number of sectors, including chemicals, food and beverage and aggregates. An authorised Siemens technology partner, the company is highly regarded by both its customers and suppliers, having built a reputation for innovation and outstanding customer service.

The acquisition of SIL by MJ Wilson Group Limited (“MJ Wilson”) is highly complementary, offering MJ Wilson the opportunity to increase market share, broaden its industrial footprint and strengthen its position within the South East.

Strategy

In partnership with the existing SIL management team, the growth strategy involves:

  • Growing existing and new customer relationships
  • Increasing market share by broadening the range of brands available to the combined customer base
  • Collaborating with supply chain partners through more efficient business development