Womble Bond Dickinson (WBD) has advised Cairngorm Capital on its majority investment in Bromborough Paint & Building Supplies Limited (Bromborough), supporting a management buy-out by its executive team.
Established in 1948, Bromborough is a family-owned paint distributor serving trade and retail customers from its 17 branches based across the North West of England, the Midlands and the Scottish border. With annual revenues of £17 million, the business is the third largest independent paint distributor in the UK.
Cairngorm Capital's investment enables the retirement of Bromborough's owner, after more than 50 years in the business, and supports the business to extend its geographic distribution with new branch openings, strategic acquisitions and the expansion of Bromborough's ecommerce offering.
WBD's corporate practice advised Cairngorm Capital on the transaction. The Leeds-based team was led by partner Simon Pilling and supported by legal director James Cook, managing associate Catherine Willis, and solicitor Sarah Tallant along with Jake Unsworth from the banking team and Nicola Guss from the real estate team.
Simon Pilling of WBD commented:
"Cairngorm Capital partners with strong, ambitious businesses, providing capital, strategic advice and operational best practice to drive transformational growth. We're thrilled to have advised our long-standing client on this exciting investment which will support Bromborough's expansion plans."
John Naylor-Leyland, Managing Director, at Cairngorm Capital, added:
"Bromborough demonstrates all that we like in a partner - the firm has strong performance and heritage, differentiated product range, outstanding reputation and an excellent management team. We're extremely grateful for the expertise and commitment of the WBD team, who pulled out all the stops to make this transaction a great success."
Ranking in the UK's top 20 law firms, WBD supports clients with their regional, national and international growth strategies. The firm has a large corporate practice in the UK advising clients on a broad range of corporate transactions, particularly M&As, IPOs, MBOs, private equity investments as well as growth and development capital fundraisings.