Transatlantic law firm Womble Bond Dickinson (WBD) has advised PaintWell on a second deal in the space of four weeks after the specialist paints distributor completed the acquisition of decorating, glass and building products distribution company, Kent Blaxill Group Limited.
PaintWell is backed by Cairngorm Capital Partners, who are long-standing clients of WBD's private equity team. The deal to acquire family-owned Kent Blaxill comes less than a month after WBD advised PaintWell on its acquisition of Promain UK, and aligns with the company's ambitious growth strategy.
The acquisition will see PaintWell's branch network extend across the East of England and the South East, confirming its status as the UK's fastest growing independent, omni-channel decorating merchant. The newly enlarged group will have 46 branches stretching from Cumbria to Kent, with approximately 250 employees and combined revenues of approximately £55m.
A multi-specialist and cross office team of WBD lawyers advised PaintWell on the transaction, led by corporate partner James Cook, managing associate Catherine Willis and solicitors William Reynolds and Nadia Abedin. They were supported by Claire Kistner, Viktor Osasu and Meer-Allah-Dino Noor from the banking team.
James Cook of WBD commented:
"Having worked with Cairngorm Capital Partners on their investment of PaintWell last year, we're thrilled to have advised the team on their recent acquisitions of Promain and Kent Blaxill and to have had the opportunity to continue to support the business as it grows."
John Naylor-Leyland, who led Cairngorm Capital’s team on the investment said:
“It has been a pleasure to work with the WBD team once again. We're extremely grateful for their expertise and commitment to get not one, but two transactions completed in a short space of time.
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.