THE DEAL:
The management buy-out of Window Widgets, the Gloucester-based manufacturer of products for the window industry, from Masonite International Corporation, headquartered in Tampa, Florida, USA. Window Widgets supplies a wide range of accessories and ancillaries, along with The Residence Collection of premium windows and doors, from its manufacturing facility in Quedgeley, Gloucester to over 800 trade customers throughout the UK and Ireland. It had revenue of £11m for the nine months ended 31 December 2018 up 15.2% on the comparable 9 month period in the prior year and the management team are looking to implement an investment programme to support further growth, with bold ambitions for the future direction of the business.
OUR ROLE:
We were approached by management who wished to participate in a sale process that was being undertaken by the parent company. We worked with the management team to present the MBO strategy to potential funders whilst putting together a team of advisers capable of delivering the transaction. Having received offers of sufficient funding to undertake the MBO we then managed the offer process with the vendor’s advisers negotiating a deal that achieved the objectives of all parties.
WHAT OUR CLIENT SAID:
“We are delighted to have acquired the business, there were many twists and turns along the way and the guidance and advice we received from the Cattaneo team throughout the process was invaluable. The deal is good for the company and its employees and gives us the opportunity to invest, innovate and realise the considerable potential that we, as a management team, know Window Widgets has.”
Sarah Hitchings, Sales & Marketing Director, Window Widgets
