Buckingham Paints of the United Kingdom has acquired the business and assets of the Philip Johnstone Group in a management buyout financed by a consortium of private investors.

LONDON — Buckingham Paints Ltd. of the United Kingdom has acquired the business and assets of the Philip Johnstone Group in a management buyout financed by a consortium of private investors. Buckingham Paints says it is one of the largest architectural paint manufacturers in the United Kingdom

Buckingham Managing Director Ian Rowe said the acquisition reflects the company’s strategy “to develop Buckingham Paints as the significant national independent decorative paint company in the U.K.”