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 Keep up to date with news and competitions @SideyTrade 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