Bond Dickinson advises Stevenswood and Cairngorm Capital on latest acquisition
A team of lawyers led by Simon Pilling and James Cook along with Associate Catherine Willis, from Bond Dickinson's Leeds office have advised Cairngorm Capital and Cairngorm Capital's investee company, Stevenswood Trade Centres Limited (Stevenswood), on the acquisition of Sameday Holdings Limited (Sameday).
Established in 2006, Sameday operates a network of seven branches in the west of England, from Bristol to Reading, distributing windows, doors and conservatory roofs to the installer market. Headquartered in Cheltenham, the company employs 20 people.
Sameday's trade counters are highly geographically complementary and provide Stevenswood with the perfect opportunity for further expansion and to strengthen its presence in the West. The new combined group will continue to be headquarted in Livingston and will have over 37 branches across the UK, generating revenues of over £45m and employing over 180 people.
Following earlier investments this acquisition is Cairngorm's Capital's eighth proprietary, off market transaction since July 2016. Bond Dickinson has advised on each transaction and this latest investment is consistent with Cairngorm Capital's strategy to invest in well-performing UK companies to support ambitious management teams in driving transformation, introducing new technology and product ranges and extending geographic reach.
Simon Pilling, Partner, said: "The team at Cairngorm Capital have a clear strategy to increase their network of trade centres over the next five years, to become the leading trade counter distributor in the UK. We're delighted to have helped the team complete this latest transaction which takes them one step closer to achieving their vision."
Alex Bayliss, Investment Director at Cairngorm Capital said: "It is a pleasure to work with Simon, James, Catherine and the rest of the Bond Dickinson team again. We have established a strong relationship and they have a thorough understanding of the way we work, and the pace at which we look to execute on transactions. They consistently provide us with commercially minded high quality legal advice".