Our Investments


Founded in 2010 and based in Banbury, BSO is an online distributer of building products, offering competitively priced building supplies and tools to trade and retail customers. With over 50,000 SKUs, BSO offers one of the largest ranges of building products available online in the UK.

In addition to financial support to strengthen technology, infrastructure and marketing, as a strategic partner Cairngorm Capital will provide specialist sector and operational expertise to support BSO’s directors in their pursuit of growth and transformation.

Cairngorm Capital’s investment in BSO was made in 2017 from its first fund Cairngorm Capital Partners I LP. Working with a number of our Operating Partners, who bring specialist sector and online distribution expertise, we aim to develop BSO to become the leading online distributor of building supplies in the UK.

For more information on the transaction, please see the BSO investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 28.11.2017 pdf


Case Study

Established in 1980, Customade is a specialist manufacturer of high-quality aluminium and PVCu windows, doors and conservatory roof products. Best known for its proprietary and market-leading REAL, Atlas and Fineline aluminium brands, the company operates from 100,000 square foot, state-of-the-art production and storage facilities near Gloucester. In 2016 it employed 320 people and achieved turnover in excess of £35 million.

Following earlier investments in Polyframe, WB Group, and Stevenswood’s manufacturing facility, the Customade acquisition was Cairngorm Capital’s fourth proprietary, off-market transaction in the window and door manufacturing sector since July 2016.

Customade subsequently merged with these three other Cairngorm Capital businesses, to create Customade Group – the UK’s largest independent trade windows and door manufacturer with the industry’s most comprehensive product offering, over £100m revenues, 900 employees and 10 manufacturing sites.

This development of the Customade Group is consistent with Cairngorm Capital’s strategy of investing in well-performing UK companies to support ambitious management teams in driving transformation, introducing new technology, broadening customer offerings and extending geographic reach.

For more information on the transaction, please see the Customade Group acquisition press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 15.02.2017 pdf


Case Study

Established in 1997, Stevenswood is the UK’s leading national, multi-profile distributor of windows, doors and conservatories. The company has over 30 trade counters in England, Scotland and Wales, generating revenues of over £40m with 165 employees.

The Stevenswood group has been built through a series of six proprietary off-market investments completed with the support of Cairngorm Capital over a twelve month period during 2016 and 2017.

Cairngorm Capital’s investment, from its first fund Cairngorm Capital Partners I LP, is representative of its ethos of actively partnering with management teams to provide operational expertise as well as financial support to accelerate growth in industry leading companies.

For more information on the transaction, please see the Stevenswood acquisition press release.


Established in 1992, Thornbridge is one of Scotland’s leading timber processors and distributors. The company has a combined sawmill and distribution hub in Grangemouth plus 8 regional branch outlets across Scotland. It generates revenues of over £35m.

Thornbridge employs 159 highly-trained staff, many very long-serving. It serves a diverse and varied customer base including joiners, DIY enthusiasts, regional housebuilders, fit-out contractors, commercial construction companies and public works contractors. Its substantial warehousing, processing, manufacturing and distribution capabilities enable the business to respond rapidly with an exceptionally wide range of sawn timber species, grades, lengths and finishes.

The company also supplies sheet materials and a range of manufactured timber products such as flooring, door sets, decking & fencing. Its branches also distribute roofing, insulation, ironmongery and tools.

Cairngorm Capital’s investment, made in 2017 from its second fund Cairngorm Capital Partners II LP, is the first in a series of planned investments in timber processing and merchanting businesses, designed to combine specialist sector operational expertise with financial support from Cairngorm Capital. We aim to develop Thornbridge to become a UK-wide industry leader in its sector.

For more information on the transaction, please see the Thornbridge acquisition press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 07.11.2017 pdf