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Our Investments


E-zec Group is the leading specialist healthcare provider of Non-Emergency Patient Transport Services (NEPTS). The Group has four specialist business units covering NEPTS, Special Education Needs (SEN), Medical Courier services and Secure Mental Health transport. E-zec operates in the heart of local communities playing a fundamental role in the NHS and wider healthcare value chain.

Cairngorm Capital initially invested in E-zec in May 2021, backing Craig Smith as CEO to transform the company by hiring 20 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 E-zec 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, from its third fund Cairngorm Capital Partners III LP, builds on investments under the Ageing in Place thesis and combines specialist sector operational expertise with financial support from Cairngorm Capital.

Visit the E-Zec Medical website at e-zec.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


Case Study

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.

Visit the IBMG website at www.independentbm.com


Case Study

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.

Visit the Millbrook Healthcare website at millbrookhealthcare.co.uk

For more information on the transaction, please see the Millbrook Healthcare acquisition press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 22.07.19 pdf


Case Study

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

For more information on the transaction, please see the MJ Wilson acquisition press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 05.02.2018 pdf


Case Study

National Timber Group is the largest specialist timber processing and distribution group in the UK formed through nine acquisitions in the last five years.

The Group operates through two divisions, Specialist Distribution and Specialist Manufacturing. The Specialist Distribution business supplies timber products from branches across the UK supported by value-added processing at two national production centres.  Specialist Manufacturing produces engineered timber roofing solutions and fire-rated timber door-sets. The Group serves trade customers operating in the repair, maintenance and improvement of residential housing, in addition to housebuilders and contractors, and is a favoured supplier of large-scale infrastructure projects.

The Group has retained a number of strong customer-facing brands but operates as one integrated business under a single management team with deep industry expertise.

Our strategy is to create the leading UK consolidator in a fragmented market and a scalable platform for continued organic and acquisitive growth. We believe the increasing use of timber as a building product is an enduring theme due to its sustainable credentials and importance in modern methods of construction.

NTG today has over 60 branches and processing sites across the UK, with revenues of £350m and over 1,400 employees.

Visit the National Timber Group website at www.nationaltimbergroup.com

For more information on the transactions, please see the Thornbridge acquisition press release, NYT acquisition press release, Rembrand acquisition press release and Arnold Laver acquisition press release.


PaintWell (formerly Bromborough Paints) is a specialist independent decorators’ merchant with a rapidly growing branch network extending across the North West, Yorkshire, and the Midlands, supported by an integrated ecommerce platform www.paintwell.co.uk.

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.

Visit the PaintWell website at paintwell.co.uk

For more information on the transaction, please see the Bromborough Paints investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 19.03.2021.pdf


SageHome is an aging in place US home services business that creates 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 is supporting 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. Since the initial acquisition, Cairngorm Capital has supported the management team by investing in best-in-class technology and systems, executing on a new state organic roll-out model, and completing two bolt-on acquisitions to expand geographically.

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.

Visit the SageHome website at www.sagehomenow.com

For more information on the transaction, please see the SageHome investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 02.05.22 pdf


Sentry Fire Safety Group is a specialist manufacturer of timber fire and security door-sets for the social housing, public sector, commercial and residential markets. Operating nationally from two manufacturing facilities in Doncaster and Birmingham, Sentry Fire Safety Group has established a strong reputation for manufacturing products that meet the most rigorous quality and fire certification standards.

We have invested in the Sentry Fire Safety Group to ensure that the company is well equipped to respond to regulatory change and increased market demand, substantially expanding manufacturing capacity and extending geographic distribution.

Sentry Fire Safety Group’s management team has received strategic and operational support from an experienced Cairngorm Capital Executive Chairman. Our operational experts have also helped strengthen sales, marketing, and brand awareness to drive transformational growth. Cairngorm Capital supported the acquisition of E & S W Knowles by Sentry Fire Safety Group in August 2022, expanding into the education, health care and student accommodation fire-door markets.

Cairngorm Capital’s investment, from its second fund Cairngorm Capital Partners II LP, is its first in the fire protection sector and combines specialist sector operational expertise with financial support from Cairngorm Capital.

Visit the Sentry Doors website at sentrydoors.co.uk

For more information on the transaction, please see the Sentry Doors investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 22.02.2019 pdf


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.

Visit the Verso Wealth Management website at www.versowmgroup.com

For more information on the transaction, please see the Verso investment press release.
You can also download the pdf version of the press release here: Cairngorm Capital Press Release 15.07.21 pdf


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.

Visit the Whyte Bikes website at whytebikes.com

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.

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