INDUSTRYNEWS
FIVE YEAR CREDIT FACILITY TO SYNSEAL
Proventus Capital Partners III has
provided a 5-year GBP £46 million credit
facility, including both a term loan and
acquisition facility to Synseal Extrusions
Ltd (“Synseal”). It will be used to refinance
existing debt and to continue to fund the
buy-to-build strategy.
Synseal is the leading manufacturer of
extruded PVC-U window and door profiles,
sealed glass units and conservatory roofs,
operating from three facilities in the Midlands.
The firm has revenues in excess of GBP 100
million and employs more than 900 staff. It
is owned by the mid-market private equity
firm H.I.G. European Capital Partners LP
(“H.I.G.”) and management, both with
significant industrial experience and both of
whom continue to support the company in its
next phase of growth.
“We are delighted to be working again with
Proventus,” says Paul Canning, MD of H.I.G.
European Capital Partners. “We believe it
is the perfect partner to sit alongside and
support H.I.G. and management’s plans to
grow the business organically and through
market consolidation.”
David Leng, Synseal’s CEO, comments:
“Proventus has delivered a flexible package
that allows Synseal to accelerate our organic
and acquisitive growth.”
email [email protected]
BUSINESS MICROS MOVES TO NEW PREMISES
Business Micros has moved its Warringtonbased sales and installation team to a new
purpose-designed office in nearby Newtonle-Willows.
The new office, which was been stylishly
converted from its original use as a pub, has
been planned to meet the specific needs of the
leading software specialist, with both private
and open plan areas, a mezzanine floor and of
course the very highest specification telephone
and broadband system.
Managing Director Graeme Bailey says the
location is perfect for the business, right at the
heart of the north west’s motorway network,
and the building itself provides a much
improved working environment for the team.
He says: “We’ve got more space than we
had previously and we’ve got the opportunity
to accommodate new staff as we continue to
grow.”
As well as the Newton-le-Willows office,
Business Micros also has a large programming
and technical support centre based in Penpont,
Dumfriesshire. Business Micros is among the
largest suppliers of software to the window
industry in Europe and now has more than 30
staff based at three locations across the UK.
Tel: 01925 296105,
www.businessmicros.co.uk
Derogatory article sparks campaign
backed by bi-fold business
A new dedicated bi-fold business has backed
a campaign to promote the North East as
a successful manufacturing hub following
an article published in the Guardian, in
which feature writer Andy Beckett compared
England’s North East to Detroit in America,
which has a declining manufacturing base.
TWR Bifolds, which launched in April this
year as a dedicated resource for installers to find
information about, and buy, aluminium Bifolds,
is putting its weight behind the campaign that
highlights the benefits of the North East as a
place of manufacturing excellence.
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JUL 2014
TWR Bifolds, part of the TWR Group, is a
national supplier of market-leading aluminium
bifold doors but is proud of its roots in the
North East where it has been in business for 14
years.
Terry Richardson, MD, comments: “The
article made a number of incorrect assumptions
and showed a complete lack of research and
knowledge. This region has its issues like many
others, but there are many manufacturing and
business success stories here, such as ours.”
Terry has called on other North East businesses
to back the campaign.
The North East is the only region in England
with a positive balance of trade in the export
market, exporting £14 billion worth of goods
annually.
To read more, visit www.clearview-uk.com