PE-backed painting and decorating supplies company cuts in on string of property deals for national expansion

Fast-growing painting and decorating supplies specialist PaintWell, which is backed by Cairngorm Capital Partners, is pressing ahead with its national expansion after securing a host of sites for new trade counters.

Birmingham-based property consultancy Vail Williams has sourced premises for the company’s 11 new trade counter openings.

Vail Williams was appointed by the largest independent decorator merchant in the Midlands to acquire several new premises across the East and West Midlands, Yorkshire, North East and North West.

Sites were sourced in Clifton Moor, York (4,777 sq ft); Teal Trade Park, Nottingham (3,800 sq ft); Ashton Road, Bredbury (4,000 sq ft); Forbes Park, Nottingham (5,511 sq ft); Derwent House, Macclesfield (4,198 sq ft); The Pensnett Estate, Kingswinford (5,822 sq ft); Salwarpe Business Park, Droitwich (3,398 sq ft); Haynes Point, Kidderminster (3,398 sq ft); Northedge, Derby (3,361 sq ft); Norse Trade Park and Congleton (3,983 sq ft) .

Vail Williams’ search for additional sites to support PaintWell’s business expansion is continuing, with opportunities already identified, negotiations taking place and the first completion taking place in the first week of January on a 4,662 sq ft unit at Marrtree Business Park, Glasshoughton.

PaintWell started in 1948 on The Wirral as Bromborough Paints. In 2015 the e-commerce website Trade 1st was acquired, which enabled the company to become a UK-wide supplier.

It rebranded as PaintWell in 2021.

Dan Peacock, commercial director of PaintWell, said: “We are very much on an acquisition drive as we seek to open more stores and strongly increase our presence in the retail warehouse park market with more ‘one-stop shops’ for decorators.”

Vail Williams associate Charlotte Fullard, surveyor Oliver Muscutt and regional managing partner Carole Taylor have been working on the search.

Fullard said: “After spending time understanding PaintWell’s objectives and future growth strategy, we began market searches within specified locations, sourced and secured premises to meet their needs and negotiated the best possible lease terms.

“Owing to our success, we were retained to secure additional premises across the East and West Midlands, North East and North West as part of a continued expansion plan over the coming years.

“Our work for PaintWell is therefore by no means complete and we continue to source suitable premises – with further sites now reported to them for potential occupation in 2023.”

Vail Williams also advised Cairngorm Capital Partners on a deal which saw PaintWell acquire independent, family-owned decorating, glass and building products distribution company Kent Blaxill Group – doubling the size of PaintWell’s portfolio.

PaintWell’s also swooped for specialist paints and surface coatings distributor, Promain, establishing a new industrial paints division.