Cairngorm Capital

What Cairngorm Capital does

Cairngorm Capital Partners LLP is a specialist UK private equity firm headquartered in Edinburgh that invests in profitable mid-market companies with £10m–£200m of revenue and £2m–£50m of EBITDA. Founded operationally around 2014 under Chairman Lee Hess and Managing Partner Andrew Steel, the firm deploys £10–40m of equity per platform, primarily taking majority positions in UK-headquartered businesses but with capability to invest across North America and continental Europe. It has executed 65 control investments since inception and currently holds 10 portfolio companies with combined revenues exceeding £1.2bn and over 7,250 employees, managed through committed equity capital in excess of £400m across multiple funds including Cairngorm Capital Partners III LP. The firm operates a thematic investment strategy across four pillars — Health & Wellness, Home Repair & Maintenance, Wealth Services, and Sustainability/Net-zero — and partners with management teams via a Transformation Approach, supported by dedicated Operating Partners. Revenue is generated through conventional PE economics: management fees on committed AUM plus carried interest crystallised at exit, with recent realisation activity including the sales of EMED Group, IBMG, National Timber Group, Whyte Bikes, and SageHome during 2025. Current active platforms include Millbrook Healthcare, PaintWell, Sentry Fire Safety Group, Verso Wealth Management, and City Energy Group, alongside ongoing buy-and-build initiatives (e.g., Verso's acquisition of Everlong Wealth).

Name

Cairngorm Capital

Legal name

Cairngorm Capital Partners LLP

Website

http://www.cairngormcapital.com/

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Cairngorm Capital is a UK lower mid-market private equity firm deploying £10–40m equity into profitable companies across Health & Wellness, Home Repair & Maintenance, Wealth Services, and Sustainability themes, with 10 portfolio companies generating combined revenues above £1.2 billion.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

Keywords

• Private equity investing
• Mid-market buyouts
• Growth capital
• Buy-and-build acquisitions
• Management buyouts

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Private Equity Investment Management: Cairngorm Capital generates revenue through management fees and carried interest from their private equity funds. The firm has committed equity capital in excess of £400m for investments across three funds (Cairngorm Capital LP II and LP III). Returns are generated through operational improvements, strategic transformations, and exits of portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Cairngorm Capital is a specialist private equity firm that provides investment capital (£10-40 million of equity per transaction), strategic insight, and sector-specific expertise to profitable UK mid-market companies with transformational growth potential. The firm partners with management teams to execute buy-and-build strategies and operational transformations across four themes: Health & Wellness, Home Repair & Maintenance, Wealth Services, and Sustainability÷also deploys committed equity capital in excess of £400 million across funds.

Product overview

Cairngorm Capital is a specialist private equity firm (not a technology product company) that provides equity capital and management expertise to leading UK companies. The firm operates a portfolio of 10+ portfolio companies across healthcare services, building materials distribution, wealth management, and sustainability sectors. The portfolio includes: EMED Group (healthcare transport), IBMG (building materials), Millbrook Healthcare (assisted living equipment), National Timber Group (timber distribution), PaintWell (decorator merchants), SageHome (US aging-in-place services), Sentry Fire Safety Group (fire door manufacturing), Verso Wealth Management (wealth management with digital platform), Whyte Bikes (premium bicycles), and City Energy (energy efficiency retrofits). The firm does not offer a unified software platform but rather invests in and transforms operating companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Cairngorm Capital Private Equity Fund Management End-to-end private equity fund management service for institutional investors, deploying £10-40m of equity per portfolio company into profitable UK mid-market businesses (£10m-£200m revenue, £2m-£50m EBITDA) across four themes: Health & Wellness, Home Repair & Maintenance, Wealth Services, and Sustainability. Includes sourcing, execution, active board partnership, a Transformation Approach supported by Operating Partners, and exit management.

Quantifiable outcome

• 65 completed control investments
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Everlong Wealthacquisition targetStrategic or Co-development Partner · 7 January 2026Verso Wealth Management (Cairngorm portfolio company) acquired Everlong Wealth, a Midlands-based Chartered financial planning firm with £350m of client assets and 12 team members including 6 Chartered financial planners.

Scale indicators5 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• YFM Equity Partners: UK SME PE firm with regional offices, investing £2-£25m in established businesses. Comparable on UK mid-market focus, deal size, and management-led partnership.
• Bowmark Capital: UK mid-market private equity firm specialising in management buyouts and growth capital, typically investing £20-150m of equity. Closest comparable to Cairngorm on UK lower-mid-market focus, equity cheque size, and majority control strategy.
• LDC (Lloyds Development Capital): One of the UK's most active mid-market PE investors, backing management teams of £10m-£100m revenue businesses. Highly comparable given similar UK focus, equity ticket sizes, and management-led partnership model.
• August Equity: UK lower mid-market PE firm investing £10-50m in profitable businesses with £2m-£20m EBITDA. Direct competitor for similar thesis-driven UK lower mid-market deals and management buy-outs.
• Livingbridge: UK mid-market PE investor with a focus on growth and buyout situations, typically investing £10-100m. Comparable in UK mid-market focus, sector breadth, and active partnership approach.
• Mobeus Equity Partners: UK lower mid-market PE firm investing £10-50m in profitable SMEs. Closely comparable on cheque size, UK focus, and backing of management teams.
• Growth Capital Partners: UK mid-market PE firm focused on MBO and growth investments of £10-75m. Highly comparable in deal size, geography, and active management approach.
• Synova Capital: UK mid-market PE firm specialising in buy-and-build strategies in the professional services, financial services, and tech-enabled services sectors. Comparable on UK focus and transformational partnership model.
• BGF (Business Growth Fund): UK's largest growth capital investor, supporting smaller UK businesses with £1-£20m equity tickets. Comparable in UK SME focus and providing capital plus operational support to growing businesses.

Broad incumbents

• Charterhouse Capital Partners: Established UK mid-to-large market PE firm. Compares to Cairngorm on UK mid-market activity but operates at substantially larger cheque sizes and fund scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/10155942

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A16 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cairngorm Capital