Builders’ merchant Grant & Stone has announced a new partnership with private investment firm Cairngorm Capital.
Cairngorm Capital is acquiring the business from Grant & Stone’s founding shareholders, backing the incumbent management team led by chief executive Nick House, commercial director Peter Cudd and divisional managing directors Andy Grant, Mat Miller and Matt Bland, a statement said.
The family-run provider of products and services for the building, plumbing and electrical trades has 29 branches across the Thames Valley, including merchants, electrical wholesalers, plumbers’ merchants, timber merchants, as well as eight kitchen and bathroom showrooms.
Its e-commerce subsidiary Trading Depot was launched in March 2008 as a one-stop solution for building supplies and tools to trade and retail customers.
Headquartered in High Wycombe, Grant & Stone now employs 360 people and in 2019 achieved revenues of £100m.
Bob Grant, one of the retiring founders of Grant & Stone, said: “For over 30 years, our priority has been to provide our customers with the best products and outstanding customer service. Susan Grant, Richard Stone, Susan Stone and I are proud of all that we have achieved to date but we recognise that the company has the potential to achieve much more. This is the natural point for us to pass the company to new, trusted custodians who can deliver on its future potential. I am confident that Grant & Stone is in good hands and will go from strength to strength.”