A team of Yorkshire’s leading dealmakers and funders have advised on the management buyout of one of the UK’s largest window manufacturers.
The Glazerite UK Group Ltd (founded in 2000 as Glazerite Windows Ltd) is widely recognised as a leading innovator in the fenestration industry. Headquartered in Wellingborough and with additional manufacturing sites in Bolton and Peterborough, the group generates annual sales in excess of £35 million.
The deal sees the management team, led by group managing director Rob Brearley, acquire the business from founding shareholders John Hewitt and Jason Thompson.
Commenting on the deal, Rob Brearley said: “I’m thankful to BHP Corporate Finance for being by my side. We’ve been working on it together for over a year and I’ve learned more than you could imagine whilst going through the process with them.
“Glazerite is a great business with a strong reputation sitting as a major player in the industry. We have some ambitious plans to take the business to the next level and with a strong management team behind me I have no doubts that we will achieve these.”
Don Gray and Joe Briggs from BHP Corporate Finance acted as lead advisors on the transaction.
Don Gray, partner at BHP, said: “We are delighted to have had the opportunity to work with Rob and the team to put this deal together. Planning for the transaction started in the middle of the first lockdown and it is a testament to the quality and resilience of the business and its management team that we have been able to complete the deal in these turbulent times.”
Legal advisors to the MBO team were Knights plc. Paul Trudgill, partner, said “It was a pleasure to work with Rob and the management team to help shape the buy-out and bring it to fruition. I have no doubt that their determination and energy will enable them to take the business to even greater success.”
Shawbrook Bank provided an integrated funding package to support the buyout. Nick Salmons, relationship director, added “We are really pleased to have supported Glazerite with the funding for their MBO. Rob has assembled an excellent management team which will no doubt take the business from strength to strength. I look forward to working with them over the coming years as they execute and deliver on their growth plans”.
Other Yorkshire advisors that worked on the transaction were MacKenzie Spencer (financial due diligence) and Gunner Cooke (banking legals).