Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Paintwell, the deorators’ merchant that bought Kent Blaxill in November 2022, has been bought out of administration by the family-owned decorators merchant chain Brewers Group.
The company had been owned by private equity firm Cairngorm Capital, which also owns builders merchant group IBMG, and National Timber Group.
The deal with Brewers includes most of the 44 stores, as well as the industrial paint distributor, Promain.
The most recent accounts filed by Paintwell Topco at Companies House, were for the year to December 31, 2022, when turnover was £24.9m, with a total loss for the year of £2.97m, against a pre-tax profit of £271,335 in 2021.
At the time of preparing the accounts for 2022 the directors said they had a reasonable expectation that the group had adequate resources to continue in operational existence “for the foreseeable future”. The identified risks to this stragegy were included liquidity risk, credit risk, reliance on key suppliers, and competitor pressure.
