Cairngorm Capital its investee company, Stevenswood Trade Centres, has confirmed the acquisition of Truemans Holdings Limited, a deal in which the Leeds office of law firm Bond Dickinson provided advice.
The team of lawyers, led by Simon Pilling and James Cook from Bond Dickinson, advised on the transaction which advances Stevenswood’s ambition to develop a national network of trade counters and completes strategic gaps in its presence in England.
The new group will continue to be headquartered in Livingston and will have more than 30 branches across the UK, generating revenues of over £40m and employing more than 165 people.
Following earlier investments in speciality window and door distribution business Stevenswood, and leading window and door fabrication businesses Polyframe, WB Group and Customade, this acquisition is Cairngorm Capital’s fifth off market transaction since July 2016.
Mr Pilling said: “We are delighted to have helped the Cairngorm Capital team and Stevenswood complete this latest transaction in support of their strategy to grow their trade counters business nationwide and we look forward to helping further as they continue to pursue further opportunities to grow their business.”
Alex Bayliss, Investment Director at Cairngorm Capital said: “We have established a strong relationship with Simon and James and the rest of the Bond Dickinson team.”