London and Edinburgh, 31 May 2022
Cairngorm Capital Partners is pleased to announce that its portfolio company, Independent Builders Merchant Group (IBMG) has acquired Independent Roofing Supplies (IRS).
Established in 2000, IRS is an independent roofing merchant in the South East, serving roofing contractors across London, Sussex and Kent. It provides a comprehensive range of products for pitched and flat roofs, from its three locations in Bexhill, Newhaven and Hove.
IRS’ highly complementary branch network and product range provides IBMG with geographic expansion, product extension and a strong platform for further growth. Culturally, both companies share a common vision, independent ethos and commitment to providing the highest standards of customer service, making this transaction a good fit.
For IRS, this partnership facilitates succession planning and secures the right custodian for the business – one with a shared vision and values. Directors, John Wond and Andy Mansfield will remain with the business, working with Danny Spokes, Managing Director for IBMG’s roofing division, to ensure IRS’s successful integration and to realise the potential opportunities that this partnership provides.
Danny Spokes, Managing Director of IBMG’s roofing division said, “We are delighted to welcome IRS to the Group. IRS is an excellent company with an exceptional team and a strong product range. We are delighted to be able to strengthen the provision of our services across London and the South East for the benefit of our customers.”
John Wond, Director of Independent Roofing added, “We are delighted to be joining IBMG. Both companies share a commitment to the highest standards of customer service and an independent ethos, which makes this partnership a very good fit. I look forward to working with Danny to ensure our successful integration into the Group.”
For further information, please contact Katherine Ritchie on 020 8347 6183 or 07941 040021
Notes for editors
Cairngorm Capital Partners LLP is a specialist private investment firm providing equity capital and management expertise to leading UK companies. It invests in strongly-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 includes majority owned stakes in:
Independent Builders Merchants Group
MRO+ Solutions Group
National Timber Group
Verso Wealth Management
Independent Builders Merchants Group is the largest independent merchant group in the South of England operating through five core divisions (Builders Merchants, Timber, Plumbing & Heating, Roofing and Electrical), primarily serving trade customers with an extensive range of products. IBMG has 166 branches extending from Penzance to Margate, generating revenues in excess of £600 million and are supported by over 2,100 colleagues.
Independent Roofing Supplies is an independent roofing merchant in the South East that offers a comprehensive range of products for pitched and flat roofs, from its three locations in Bexhill, Newhaven and Hove. Independent Roofing has demonstrated strong organic growth since its formation.
View the pdf version: Cairngorm Capital Release 31.05.2022 pdf