Notts stone manufacturer bought by private equity investor

A Nottinghamshire-based manufacturer and supplier of architectural cast stone has been bought by a private equity investor.

The deal will see Serene Stone operate as a standalone entity within Nene Capital’s long hold portfolio, retaining its brand, management team and existing business operations.

“We are thrilled to welcome Serene Stone into our portfolio,” said Stephen Bayliss, managing director of Nene Capital, which is based in Corby.

“We believe in the tremendous potential of Serene Stone and are committed to supporting their growth trajectory. Creating value on a risk adjusted basis remains core to our investment philosophy. Together, we aim to unlock market opportunities, enhance customer value, and drive sustainable long-term success.”

Simon Stringer, finance director of Nene Capital, said: “The historic focus of Serene Stone on quality and delivery has allowed it to establish strong underlying financial and trading performance. These characteristics make it an exciting addition to our growing portfolio of SME businesses.”

In its latest available accounts, made up to 30 June 2022, Serene Stone had net assets of over £1.9m. The firm employed 37 people at the time from its base in Pinxton.