Clearview National August 2016 - Issue 177 | Page 29
DOORS&WINDOWS
SUPPLYING
TRADE FOR OVER
80
YEARS
Buy-in opens
door to growth
»»ONE OF YORKSHIRE’S
long-established, privately
owned PVC fabrication
businesses has changed hands
in a management buy-in, with
the transaction providing an
exit for the original founder
shareholders.
The £22m turnover group,
based in Barnsley and operating
under the brands Sash UK
(“Sash”) and Fitrite Fencing &
Decking (“Fitrite”), has been
acquired by John Ross and Nick
Lilburn, both of whom were
part of the former management
team at Bradford-based
SafeStyle Group. The Yorkshire
offices of Corporate Finance
adviser, Dow Schofield Watts,
and legal firm, Squire Patton
Boggs, advised them on the
purchase and subsequent fund
raising, with the transaction
backed by London-based private
debt fund, Praesidian Capital
Europe.
Having recently celebrated
50 years since its foundation,
Sash UK is one of the North’s
leading fabricators of windows
and doors and Fitrite, set up
in 2010, is one of the UK’s
market leaders in the supply
of PVCu decking. The group
employs approximately 180 staff
at its Head Office and main
production facility in South
Yorkshire.
John Ross, Managing
Director, commented: “It’s great
to be back operating in the
industry again and Sash, as a
long-established and successful
fabricator in Yorkshire, provides
Nick and myself with the ideal
platform for doing so. Our plan
for Sash is simple - to continue
where the previous owners
left off by focusing firmly on
the trade, commercial and
housebuilding revenue streams
of the business.”
The Dow Schofield Watts
team, which included Paul
Herriott and Matt Thompson,
was led by Tony Norwood,
Director, who said: “John
and Nick’s track record and
knowledge of the glazing
industry is unparalleled and we
are delighted to have advised
them on negotiating the
purchase of the businesses and
required fund raising that now
sees them back leading a key
business in the region. ”
Richard Hunt, Corporate
Partner at Squire Patton Boggs,
led a legal team across several
service lines including tax,
banking and property. He
commented: “It’s fantastic to
see John and Nick get back
involved in the sector and we
are delighted to have helped
them make it happen. Under
their stewardship and combined
with long-term funding support
of Praesidian Capital, the
combined business now has
fantastic growth potential.”
Consumer spend is growing and demand is
rising for high-end quality products like
bi-folding doors and vertical sliders.
SIDEY’S QUALITY WINDOWS & DOORS
ARE PREMIUM PRODUCTS
OFFER INSTALLERS SELLING OPPORTUNITIES
ARE BACKED BY FIRST-CLASS SERVICE
MADE IN SCOTLAND DIRECT TO TRADE
Contact Sean or Christina
today for more information
E: [email protected]
T: 0800 234 400
W W W . S I D E Y. C O . U K
WHERE QUALITY IS MADE & SUPPLIED TO THE TRADE
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TRADE POINT: 53 Feus Road, Perth, PH1 2AX
C L E A RV I E W-U K . C O M » AU G 2016 » 29