Parker Building Supplies, the South East’s leading independent builders’ merchant with 15 branches across Sussex and Kent, has been snapped up by specialist private investment firm Cairngorm Capital Partners LLP in a deal introduced by EMC.
It was our sixth major transaction concluded in the first 12 weeks of 2018 making it by far our best ever start to a calendar year.
Founded in 1984, Parker Building Supplies serves trade and retail customers with its core offering of heavyside building materials. Headquartered in Polegate, East Sussex, the company generated revenues of £67m in 2017.
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Tom Parker, the company’s retiring founder said: “Parkers has grown substantially in recent years and has the potential to achieve much more. This is the natural point for me to pass the company to new, trusted custodians who can deliver on its future potential.”
Nik Askaroff, who led EMC’s team in the transaction, said: “This is a brilliant deal for all concerned and comes at just the right time for Tom who can bow out knowing that Cairngorm Capital’s unique mix of sectoral expertise and investment skill will enable them to take the business to the next level and become a leading distributor of building products in the UK.”
He added: “This is by some distance the best start we have had to a calendar year since I formed EMC in 1989 and our pipeline of work is also at record levels. With foreign buyers increasingly on the look-out for solid SMEs and money still plentiful – banks, mezzanine lenders, private equity firms and venture capitalists are all out there looking for businesses to support – I can only see the appetite for M&A increasing over the rest of the year.
“If any owners are thinking of cashing in on their years of hard work starting and building a business, now’s the time to do so.”