London-based Cairngorm Capital Partners LLP's Cairngorm Capital Partners II LP bought U.K.-based cutting tools specialist Helix Tool Co. Ltd.
The move is part of Cairngorm's strategy to build a national full-service maintenance, repair and overhaul, or MRO, distribution business. While Helix will continue as a separate business, Cairngorm said it will take advantage of opportunities to capitalize on synergies. Helix founders Charles and Louise Robinson will continue to lead the business.
The private equity firm also said that former Cromwell Group (Holdings) Ltd President and CEO Michael Kerins joined the board of the MRO business, which is known as MRO+ Solutions.