PaintWell - the North West's largest independent paint distributor and decorators merchant – is backed by Cairngorm Capital Partners, who are long-standing clients of WBD's private equity team. The acquisition of industrial paint and coatings specialist Promain - the preferred UK distributor for many of the world’s leading paint and surface coatings manufacturers - broadens PaintWell’s growth strategy and extends the platform for PaintWell’s new industrial paints division.
WBD advised PaintWell on all aspects of the transaction. The team was led by Leeds-based corporate partner James Cook and supported by managing associate Catherine Willis and solicitor Lewis Sanderson, along with partner Claire Kistner and associate Viktor Osasu from the firm's banking team. A multi-specialist WBD team advised on the due diligence exercise.
James Cook of WBD commented:
"Having worked with Cairngorm Capital Partners on their investment of PaintWell last year, we're thrilled to have advised PaintWell on their acquisition of Promain, which further supports the company's growth and development. Our strong private equity credentials coupled with our sector expertise meant we were able to provide commercially-driven legal expertise for our client."
John Naylor-Leyland, who led Cairngorm Capital’s team on the investment said:
“Promain will form the cornerstone of PaintWell’s industrial paints division. The strength of its supply chain and technical expertise pairs well with PaintWell’s existing industrial paints offering and external sales expertise, creating a platform for further development and growth. 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.