Gowling WLG has advised Cairngorm Capital Partners (Cairngorm Capital) and its portfolio company, Grant & Stone Group on the completion of three acquisitions and the arrangement of £124 million of debt facilities.
Grant & Stone’s acquisitions of RGB Building Supplies, Buildit Gloster and Total Plumbing Supplies creates the largest independent builders’ merchant group in southern England.
Rawle Gammon & Baker Holdings Limited, trading as RGB Building Supplies is a leading independent builders’ merchant in the South West, with 22 branches serving customers across Somerset, Devon and Cornwall.
Buildit Gloster Limited is a three branch builders’ merchant providing a broad range of building materials to trade and retail customers across Gloucestershire and Wiltshire, while Total Plumbing Supplies Limited is a five branch plumbers’ merchant headquartered in Devon, supplying trade and retail customers across Dorset, Wiltshire, Somerset and Devon.
The new debt facilities – provided by Ares Management Limited and Santander – were used to refinance drawn debt and finance the three simultaneous acquisitions, all of which completed over a single weekend.
Ian Piggin (Picture), partner and head of private equity at Gowling WLG, led a cross firm team advising on the three acquisitions and the arrangement of debt facilities.
Involved fees earner: Ian Piggin – Gowling WLG;
Law Firms: Gowling WLG;