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Mon February 17 2020

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Cairngorm snaffles another builders’ merchant

19 Nov 19 Thames Valley builders merchant Grant & Stone is the latest independent trader to be bought up by private equity investor Cairngorm Capital Partners.

A Grant & Stone kitchens and bathrooms showroom
A Grant & Stone kitchens and bathrooms showroom

Established in 1987, Grant & Stone has 29 branches across the Thames Valley, consisting of builders' merchants, electrical wholesalers, plumbers' merchants, timber merchants, as well as eight kitchen and bathroom showrooms. Headquartered in High Wycombe, it employs 360 people and has annual revenues of £100m.

Cairngorm Capital said that it aims to open more Grant & Stone and use it as the basis for further acquisitions.

Cairngorm Capital owns Scottish timber merchant Thornbridge, North Yorkshire Timber, Arnold Laver and door maker Cotswold Manufacturing.

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Cairngorm Capital managing partner Andrew Steel said: "Grant & Stone is an excellent example of the sort of business in which we like to invest. Its employees, technical know-how and customer service are all exceptional."

Grant & Stone chief executive Nick House said: "We welcome the investment and support from Cairngorm Capital. Our company is at a really exciting point in its development and is ready to capitalise on the numerous growth opportunities available to it. We have ambitious plans to fulfil but also the advantages of exceptional products, first-rate employees and a well-deserved reputation for superior service. I am looking forward to the next phase of our development."

Bob Grant, one of the retiring founders of Grant & Stone, said: "For over 30 years, our priority has been to provide our customers with the best products and outstanding customer service. Susan Grant, Richard Stone, Susan Stone and I are proud of all that we have achieved to date but we recognise that the company has the potential to achieve much more. This is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. I am confident that Grant & Stone is in good hands and will go from strength to strength."

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