Arbuthnot Commercial ABL supports PaintWell’s acquisition of Kent Blaxill, powering significant expansion

Arbuthnot Commercial Asset Based Lending (ACABL) has completed a substantial new funding facility to support Cairngorm Capital Partners LLP’s portfolio company, PaintWell Limited, with its strategic acquisition of Kent Blaxill Group Limited (Kent Blaxill).

Arbuthnot Commercial ABL provided significantly increased lending facilities to the enlarged group, having previously funded Cairngorm Capital’s original acquisition of Bromborough Paints, and more recently, the purchase of Promain (UK) Ltd, the UK’s largest distributor of industrial paints and surface coatings.

The newly enlarged group will have 46 branches stretching from Cumbria to Kent, with approximately 250 employees and combined revenues of approximately £55m.

Established in 1838, Kent Blaxill is an independent, family-owned decorating, glass and building products distribution company. Headquartered in Colchester, Essex, it has 23 branches across the East of England and the South East, serving a diverse range of trade and retail customers.

John Naylor-Leyland, who led Cairngorm Capital’s team on this key investment, commented:

"Arbuthnot Commercial ABL has a very clear understanding of our strategic intentions for the business and how that will scale over time. Our goal is to continue to create real value in the group by investing in our core estate and e-commerce strategy to support our customer base and to open new branches as we expand our national presence. With the recent acquisition of Promain, we also now have a mature industrial paints division that will grow meaningfully. Arbuthnot is an important and aligned partner for us; their pragmatism enables us to fulfil our commercial objectives, and we see them continuing to support us with asset-backed facilities as we continue to scale the business"

Andrew Rutherford, Commercial Director at Arbuthnot Commercial Asset Based Lending, said:

"We were delighted to support this complex, strategically important, sponsor-led acquisition with a flexible funding facility structured to encourage further growth. This transaction confirms the group’s position as the UK’s fastest-growing independent, omnichannel decorating merchant. We are excited about the next phase of the Group’s development and look forward to supporting Cairngorm Capital and PaintWell with their collective expansion plans"