Cairngorm Capital’s acquisition of Truemans Holdings Limited


Bond Dickinson has advised Cairngorm Capital, and Cairngorm Capital’s investee company, Stevenswood Trade Centres Limited, on the acquisition of Truemans Holdings Limited.

This transaction advances Stevenswood’s ambition to develop a national network of trade counters and completes strategic gaps in its presence in England. The new combined group will continue to be headquartered in Livingston and will have over 30 branches across the UK, generating revenues of over £40m and employing over 165 people.

Following earlier investments in specialty window and door distribution business Stevenswood, and leading window and door fabrication businesses Polyframe, WB Group and Customade, this acquisition is Cairngorm Capital’s fifth proprietary, off market transaction since July 2016. Bond Dickinson have advised on each transaction. This latest investment is consistent with Cairngorm Capital’s strategy to invest in well-performing UK companies to support ambitious management teams in driving transformation, introducing new technology and product ranges and extending geographic reach.

Bond Dickinson has advised Cairngorm Capital on the deal with a team led by partner Simon Pilling (picture), assisted by managing associate James Cook.

Involved fees earner: Simon Pilling – Bond Dickinson; James Cook – Bond Dickinson;

Law Firms: Bond Dickinson;

Clients: Cairngorm Capital;