E-zec Medical is a leading independent provider of Non-Emergency Patient Transport Services (NEPTS) with over 30 depots across the England, serving a range of NHS funded services on behalf of Clinical Commissioning Groups.
Established in 1998, and headquartered in Redhill, Surrey, E-zec employs 1,500 specialist staff and in 2020 achieved revenues of £50m.
Cairngorm Capital’s investment, supporting the incumbent management team, will enable Z-zec to capitalise on its significant growth opportunities within its current and adjacent market verticals. Though investments within data analytics, E-zec will deliver enhanced performance and innovation to commissioners and patients.
Cairngorm Capital’s investment in E-zec was made in May 2021 and is the fourth investment from its 3rd fund, Cairngorm Capital Partners III LP.
IBMG is the largest building materials distributor in the South of England, formed through more than 20 acquisitions made since the start of 2018.
While IBMG has retained many of the strong local brands across its business, it operates as one integrated company led by a single management team. IBMG primarily serves trade customers operating in the repair, maintenance, and improvement of residential property.
The group operates through five divisions, with the core builders merchant branches supported by a network of specialty plumbing & heating, roofing and electrical branches, and a dedicated timber processing and distribution business.
IBMG today has over 170 branches operating across the south of England, with combined revenues of c.£650m and over 2,000 employees.
Millbrook Healthcare is a leading provider of community equipment, wheelchair services and home adaptations. These services enable elderly and disabled individuals to maintain their independence within their own homes rather than requiring hospitalised care. Headquartered in Southampton and operating from 29 service centres, Millbrook provides these essential services on behalf of a number of local authority and NHS organisations.
Our aim is continually to enhance service levels for Millbrook’s customers, through additional investments in technology, product offerings and logistics capabilities. With increased financial resources, Millbrook aims to build a nationwide service offering.
Cairngorm Capital is partnering with Millbrook Healthcare’s existing management team. Additional strategic and operational support is being provided by an experienced non-Executive Chairman and a Cairngorm Capital Operating Partner.
Cairngorm Capital’s investment, from its second fund Cairngorm Capital Partners II LP, is its first in the assisted living sector and combines specialist industry expertise with financial support from Cairngorm Capital.
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. It employs highly-trained staff who serve a diverse range of long-standing customers.
Cairngorm Capital invested in MJ Wilson in January 2018, as the first in a series of investments within the MRO industry to create a new national and full-service business led by highly experienced industry executives. Through a series of accelerated investments in technically focused companies across the MRO product range, the aim is to develop the MRO platform to become a UK-wide industry leader.
In collaboration with an expert management team, MJ Wilson will serve as the initial platform for a national, technically focused, MRO business that serves small-to-medium size enterprises. Our strategy involves:
- Consolidating leadership through further acquisitions
- Broadening product and service offerings across bearings, fluid power and industrial supplies
- Achieving revenue synergies through cross-selling to an enlarged group
- Collaborating with supply-chain partners to drive efficiencies
- Enhancing business development and sales initiatives to accelerate growth
National Timber Group is the largest independent added-value timber distribution and processing group in the UK. The Group was created through the acquisitions of market-leading brands Thornbridge, North Yorkshire Timber, Rembrand and Arnold Laver over a 12 month period starting with the investment in Thornbridge in November 2017.
The Group serves a diverse customer base including joiners, housebuilders, and contractors, and is a favoured supplier of large-scale infrastructure projects. With extensive warehousing, processing and distribution capabilities the Group can provide customers across the UK with a full range of the highest quality timber, panel, decorative surfaces and engineered wood products supported by comprehensive timber knowledge and expertise.
In 2019, the Group has a combined turnover of over £250million, over 1300 employees and 52 processing and distribution sites from the North of Scotland to London and the South West.
Cairngorm Capital has invested in National Timber Group, from its second fund Cairngorm Capital Partners II LP. Our strategy is to create the leading timber distribution company in the UK through a series of planned, complementary acquisitions and by combining specialist sector operational expertise with financial support from Cairngorm Capital.
We have recruited an executive management team with deep industry expertise, led by Group CEO Rob Barclay. This team is complemented by Cairngorm Capital Operating Partners Jon Gatfield, Victor Vadaneaux and Warren Gee. Together we will drive growth in the Group through new branch openings, product range extension and supply chain collaboration, supported by an experienced workforce and best in class digital platform.
Cairngorm Capital’s investment, supporting the incumbent management team, has already enabled PaintWell to rebrand, accelerate its branch rollout programme, invest in best-in-class technology and systems, and enter new verticals with plans for significant further expansion, including strategic M&A.
Cairngorm Capital’s investment in PaintWell was made in March 2021 and is the third investment from its 3rd fund, Cairngorm Capital Partners III LP.
SageHome is an aging in place US home services business that combines professional design and installation teams with occupational therapists’ expertise, to create a functional and safe living space that allows US seniors to remain independent in their homes. SageHome offers a rapid service to homeowners who are proactively preparing their homes to allow them to age-in-place comfortably, and also provides services to individuals who are transitioning from care facilities to their own home.
Cairngorm Capital will support SageHome’s management to achieve its goal of providing a full service, national solution to the market, and in doing so enable seniors and people with disabilities to live independently at home and help to reduce hospital admissions and readmissions across the US.
SageHome’s first acquisition, New Bath Today Inc., is an award-winning bathroom renovation specialist, with a particular focus on the wet area of the bathroom – one of the key risk areas in the home for aging seniors. Headquartered in Indianapolis, Indiana and serving six states across the Mid-West, New Bath Today provides elegant bathing solutions, such as walk-in-baths and low threshold showers, which can be installed within a day with minimum disruption to homeowners.
Cairngorm Capital’s investment in SageHome was made in April 2022 and is the Sixth investment from its 3rd fund, Cairngorm Capital Partners III LP.
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 has established a strong reputation for manufacturing products that meet the most rigorous quality and fire certification standards.
Our aim is to ensure that Sentry Doors is well equipped to respond to regulatory change and increased market demand, by substantially expanding manufacturing capacity and extending geographic distribution.
Sentry Doors’ management team will receive strategic and operational support from an experienced Executive Chairman, who has deep experience in manufacturing and logistics. Our operational experts will also help strengthen sales, marketing and brand awareness to drive transformational growth.
Cairngorm Capital’s investment, from its second fund Cairngorm Capital Partners II LP, is its first in the fire protection sector and will combine specialist sector operational expertise with financial support from Cairngorm Capital.
Verso Wealth Management is a UK wealth management group based in London providing financial advice and investment management, powered by a digital platform.
Verso’s initial investments in Whitefoord LLP and Munnypot Limited are ahead of a series of planned acquisitions within the investment management and IFA sector. Whitefoord provides discretionary investment management services and advice to private clients, trusts and pension funds with over £300m of assets under management. Munnypot’s award winning technology facilitates automated client servicing online.
Cairngorm Capital will support Verso’s management to build a leading digital wealth management group through a rapid buy and build programme to create a business with real scale, national reach with capabilities in discretionary fund management and advisory services. In addition Cairngorm will provide operational support utilising its expertise in the investment platforms sector to create a leading digital offering for the benefit of Verso’s clients and advisers.
Cairngorm Capital’s investment in Verso was made in September 2021 and is the fifth investment from its 3rd fund, Cairngorm Capital Partners III LP.
Whyte Bikes is a premium brand in the E-Bike, Mountain Biking, Adventure/Commuter, and Gravel bike markets. It is an award-winning British bicycle company with a focus on performance and design: “Superb aesthetics combined with the best handling”.
The partnership with Cairngorm Capital is allowing Whyte Bikes to increase its production volumes, to further develop its product portfolio and to ensure that the company is well positioned to capitalise on the growing E-Bike category.
Management is supported by an experienced Non-Executive Chairman and Cairngorm Capital’s Operating Partner team. Cairngorm Capital is sharing expertise in procurement, brand management and international growth to develop Whyte’s brand in the UK and to facilitate entry into new territories.
Cairngorm Capital’s entry to this sector demonstrates our belief that changing lifestyles, environmental considerations, and government policy will increase participation in cycling over the long term. Cairngorm Capital’s investment in Whyte Bikes was made in February 2021 and is the second investment from its 3rd fund, Cairngorm Capital Partners III LP.
For more information on the transaction, please see the Whyte Bikes investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital/Whyte Bikes Press Release 01.03.2021.pdf.