Current investments

EMED Group is the UK’s leading specialist healthcare transport provider. The Group was formed with the merger of E-zec and ERS and has established a compelling proposition to local communities across four divisions: EMED Patient care, EMED Community care, EMED Safe care & EMED Courier services.

Cairngorm Capital initially invested in E-zec in May 2021, backing Craig Smith as CEO to transform the company by hiring 25 new senior management across People, Operations, Fleet and Business Strategy. E-zec mergerd with ERS Medical on 1 February 2023 to establish a group of nearly 3,000 staff, 1,100 vehicles and 45 operating depots across the UK and with revenues greater than £110m.

The group supports the movement of over 2,500 patients a day with the majority being new patients to E-zec services.

The development of specialist SEN, Courier and Mental Health services sees highly skilled staff provide the highest level of care and support to wider communities. A data rich, technology enabled service offering underpins a patient first, logistics second business proposition.

Cairngorm Capital’s investment builds on investments under the Ageing in Place thesis and combines specialist sector operational expertise with financial support from Cairngorm Capital.

Visit the EMED Group website at www.emedgroup.co.uk

For more information on the transaction, please see the E-zec Medical investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 10.05.2021.pdf


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 180 branches operating across the south of England, with combined revenues exceeding £600m and over 1,700 employees.

Visit the IBMG website at www.independentbm.com


Formed through the acquisition of two, founder-owned businesses, starting with Millbrook Healthcare in July 2019 and expanded with the acquisition of Ross Care in January 2021, the Millbrook Healthcare Group (Millbrook) is a leading UK provider of equipment, adaptation, and technology solutions to keep people living safely and independently in their own homes, where outcomes and wellbeing are better, and out of more expensive forms of care.