WB Group sold to Polyframe
17th October, 2016
Polyframe Group Limited (Polyframe), the leading manufacturer and distributor of trade windows and doors, has announced that it has successfully acquired The Window Bureau Limited (WB Group).
Established in 1981, WB Group is a leading manufacturer of a proprietary range of PVCu windows and doors, GRP composite doors and PVCu door infill panels, which it supplies to the UK trade sector.
The company operates from a state-of-art 70,000 square foot production facility in Birtley, County Durham, employing just over 100 people.
This acquisition, which was prompted by the retirement of WB Group’s founder and chairman, Kevin Craggs, aligns perfectly with Polyframe’s stated strategic goal to be the market leading trade fabricator of high quality window and doors.
WB Group is Polyframe’s first acquisition since its management led buy-out in July this year. Supported by specialist investment firm Cairngorm Capital Partners LLP, the acquisition facilitates opportunities for further innovation and growth, by increasing manufacturing capability, strengthening product development and expanding Polyframe’s product range. WB’s attractive Virtuoso entry door range neatly complements Polyframe’s leading window range.
WB Group’s Managing Director, Tony Craggs, will join Polyframe’s senior management team to run the expanded door division, which will provide a comprehensive range of composite and PVCu doors from the expanded Birtley facility, plus a specialist door service that will be based at Polyframe’s Mansfield facility.
Martin Hulls, Head of Corporate at Ward Hadaway, led the law firm’s team advising the shareholders of WB Group on the sale.
Martin, the current North East Insider Dealmakers Corporate Lawyer of the Year, said: “We are thrilled to have worked with the shareholders of WB Group on this successful sale to Polyframe Group Limited. It was a great team effort. ”
Ian Macdougal, chief executive of Polyframe said: “The outlook for our industry is strong and extremely positive, particularly in the composite door sector. Our goal is to make Polyframe best in class by offering the broadest range of high quality windows and doors in the market place. WB Group and its Virtuoso door range complete a gap in our offering, allowing us to make Polyframe the definitive trade fabricator of choice.”
John Naylor-Leyland of Cairngorm Capital commented: “This sector is forecast to achieve double digit growth over the next 3 -5 years and Ian and his team have solid plans to capitalise on this. WB Group has an outstanding reputation in the industry for supplying high quality branded composite and PVCu doors, which together with the quality of its operations and the calibre of its staff made it the natural strategic partner to expand Polyframe’s leading window range.
“We are pleased to invest further in Polyframe, and are delighted to have the continued support of Clydesdale and Yorkshire Bank Group in providing funding for the acquisitions and organic growth that are so key to our strategy.”
Kevin Craggs, founder of WB Group added: “The coming together of WB Group and Polyframe represents our mutual commitment to become the leading supplier of windows, composite and panel doors to the UK installer market and is a logical progression for the strong business that Tony and I have developed over many years. I am confident that WB Group is in good hands and wish the enlarged group every success going forward.”
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