THE Paint Shed, the Stirling-based independent which was founded by Ogilvie Rolland in 1992 and has 20 stores across Scotland, has been acquired by long-established family business Brewers.
Founded in 1904 in Sussex, Brewers is described by the parties to the deal as “already the UK’s largest independent decorator’s merchant” with 193 stores across England and Wales.
The deal provides a successful exit for growth capital investor BGF, which has backed The Paint Shed since 2020.
The Paint Shed, which employs 87 staff, sells trade paints, designer paints and accessories to independent painters and decorators and retail consumers.
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It noted that it “sees the opportunity for five to 10 more store openings across Scotland and has not ruled out further growth by acquisition”.
Ogilvie Rolland, executive chairman of The Paint Shed, said: “I am delighted to see the company join forces with Brewers. As another business with strong family roots, their values and culture mirrors our own, and will be a fantastic fit. It is our amazing people that have built such a successful company, I can’t thank them enough for their contribution and commitment over the years, and I wish the team every success going forward.”
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Michael Rolland, managing director of The Paint Shed, said: “Looking ahead, the partnership with Brewers supports our view that, whether online or in store, independent paint retailing is the future. We plan on continuing to win market share in the locations we serve and grow The Paint Shed brand wherever we think we can add value to the customer. In our experience, people prefer to shop with specialist retailers, as opposed to generalists or single-brand offerings.”
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Simon Brewer, chief executive of Brewers, said: “Ogilvie, Michael, and The Paint Shed team have built an incredible business, with great progress made over the last few years despite a challenging environment. The culture and values they have instilled in their business reflect those that matter most to us and that is why this coming together is most exciting.
“The Paint Shed’s geography is a perfect fit with the Brewers Group’s own store network.”
Graham Clarke, investor at BGF, said: “We have worked closely with The Paint Shed’s management to support positive growth through new stores and expansion since our 2020 investment, and we look forward to seeing the business go from strength to strength. I am confident that the acquisition by Brewers is a strong outcome for all parties, representing a good fit for the company going forward, whilst delivering BGF a strong internal rate of return of 22%.”
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