Jamieson is pleased to announce it has advised the founder and management team of MKM Building Supplies, the UK’s largest independent builders’ merchant, on the sale of the existing institutional investors’ stakes in the company to Bain Capital Private Equity. Management will retain a significant shareholding in the business, whilst 3i and LDC will exit.
MKM was founded by David Kilburn and Peter Murray in Hull in 1995 and has grown to become the UK’s largest independent builders’ merchant. 3i first invested in 1998 and made an additional investment in 2006, which was partially syndicated to LDC. They have since supported David Kilburn with the company’s ambitious growth plans. Since 2006, revenues and profits have more than trebled and during this time, the business has also developed from a regional to a national player, expanding to 47 branches across the country. The business has consistently grown like-for-like sales well above listed peers through superior service and category expansion, generating revenues in excess of £284 million in 2016 and employing over 1,100 people
“David and Stuart were incredibly supportive to the team and me throughout, in a process that involved several different types of investors. They are experts at what they do and left no stone unturned which gave us every confidence we were getting a good deal.”
David Kilburn, Founder and Executive Chairman
The Jamieson team, led by Stuart Coventry and David Kirkpatrick, advised David Kilburn and the management team, on all aspects of the transaction as well as the establishment of a new incentive scheme to be implemented under Bain Capital’s ownership.