THE MONTH
Cairngorm Capital adds Fairalls to Parkers and Stamco haul
The largest independent builders’ merchant group in the south east has been created with the purchase of Godstone-based Fairalls by Cairngorm Capital. Fairalls joins Cairngorm Capital’s other builders’ merchant brands, Parkers Building Supplies and Stamco, to create a group with 24 branches across Surrey, Sussex and Kent. The combined turnover is £120m and the group employs over 500 people.
A family firm dating its origins back to 1900, Fairalls offers a mix of heavy and lightside building
materials, from its four locations in Surrey and Kent – Gatwick, Sevenoaks and two branches in Godstone. Its Taylors Hill Branch in Godstone is one of the largest heavyside yards in the South East. Robert Fairall, managing director of Fairalls said, “Having made the decision to retire, it seemed natural timing to find a partner who would ensure Fairalls fulfils its potential and I believe our partnership with Cairngorm Capital and the other group companies will achieve this. We have much in common with Parkers and Stamco in terms of
heritage, outstanding product quality and a commitment to the highest standards of customer service, which makes this a very good fit. I am looking forward to facilitating a successful handover of the business to our new partners, who will be working closely with my son, Richard, to pursue new opportunities for innovation and growth, which will benefit our customers and employees, while retaining the company’s core values.”
In 2018 the business turned over approximately £15m with 85 employees.
Cairngorm Capital is a specialist private investment firm that provides equity capital and management expertise to ambitious UK companies. This is its third acquisition in the building merchants sector, following its purchase of Stamco last month.
Fraud warning as merchant is scammed by supplier’s hacked email
An independent builders merchant has issued a warning to others to be vigilant when accepting suppliers’ bank details by email after being caught out by a fraudulent email. Tony Sharkey, managing director of JTD Building Supplies in Holmfirth, paid a new supplier after receiving an email with bank details that turned out to be fraudulent.
“The worrying thing is that
The purchase of 44 Bathstore stores, website, intellectual property and stock was made by Homebase Rooms Ltd – a company formed on July 10 with Homebase CEO Damian McGloughlin and Homebase chief financial officer Andrew Coleman as sole directors. The plan is to open a number of Bathstore concessions in Homebase stores over the next 18 months. Bathstore’s online business will continue to trade independently.
it was all part of the original email thread,” he told BMJ. “Somehow the original email conversation had been hi-jacked. I’m told it was probably a done via a Trojan that got in to the system somehow, searching for key words or phrases. Because it was a part of the email thread, it never occurred to me – and probably wouldn’t to anyone else either – that it could be wrong.” Sharkey said that the amount
Bathstore, once part of Wolseley UK, called in administrators last month putting more than 500 jobs at risk. Adminstrators BDO LLP said the remaining stores that are not being transferred to Homebase as part of the sale will continue to trade for a number of weeks while remaining display stock is sold off.
to have to sort out and isn’t something I would want to lose.” He added that there may be a possibility of some of the money being recoverable, but that the bank will not release any further details, citing Data Protection rules.
– just over £5,000 – was not, thankfully, high enough to cause serious business issues, but was “enough that it is a real nuisance
“It’s a lesson that we have learned now. We will not pay anyone just on the basis of an email conversation about bank details in future.”
Bathstore goes home to Homebase Keyline integrates Rudridge
BDO business restructuring partner Ryan Grant said: “In a difficult situation, we have been able to secure the future of the Bathstore brand and the transfer of 44 stores to Homebase to maximise realisations for creditors and protect as many jobs as possible.” Homebase CEO Damian McGloughlin said: “We are delighted to welcome Bathstore into the Homebase family.” With
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Specialist civils distributor Keyline has announced the integration of its Rudridge sister company – also specialists in groundwork, civil engineering and drainage materials – into its network of more than 50 branches across the UK. From July, Rudridge branches will feature a new co-brand and will adopt Keyline’s IT platform and processes.
Keyline acquired Rudridge in February 2015, but both brands have been trading separately. The integration will give the four Rudridge branches – Brentford, Farnham, Horsham and Gravesend – access to wider stock availability, faster product sourcing and a 200 strong vehicle fleet. Customers of both businesses will benefit
from this expanded network and combined expertise.
Keyline managing director Paul Beaman says: “Following the acquisition Rudridge has always been an important part of our business, but we’re thrilled to finally announce its full integration of into the Keyline family. We pride ourselves on giving customers the very best specialist civils products, solutions and advice, and bringing the brands together in this way further strengthens our capabilities and offer.
“Our immediate focus has been to ensure Rudridge has a seamless transition into Keyline and that customer service remains high. Looking ahead we’re all really excited about the future.”
www.buildersmerchantsjournal.net August 2019
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