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 and Parker Building Supplies in March 2018. With minimal branch overlap and a highly complementary product range, this partnership offers the strategic opportunity for geographic expansion and advances Cairngorm Capital’s strategy to expand its business through a combination of acquisitions, new site development and organic growth.
Alex Bayliss, managing director at Cairngorm Capital added: “We have been working to build a customer-focused business, with great products, outstanding customer service and a strong, expanding branch network. Like Parkers and Stamco, Fairalls is an excellent company with a strong brand in the independent builders’ merchants market and an outstanding reputation with its customers. Geographically this partnership is highly complementary, extending our presence across the South East of England to make our group, the largest independent builders’ merchant in the region. We are delighted to welcome Fairalls to the group.”