A Leeds-based window and door manufacturer has secured new investment in a deal supported by Yorkshire advisers.
Alternative Windows was established in 1988 by shareholders and directors Nigel Fletcher and Darren Barraclough, and is now a major player in supplying uPVC and aluminium doors and windows, largely into the commercial markets.
The company has a blue-chip client base, and has undertaken a series of major refit projects in the social housing sector, as well as supplying aluminium products into the commercials sector.
The investment was led by Ben Watson, who has become chief executive, joined by Ian Smith as aluminium sales director, with Darren Pratt, the previous sales director, joining the board as managing director. Neil Davis, who has previously led the growth and exit of his own and private equity backed businesses, also joined the board as non-executive chairman.
Watson and Smith were previously part of the management team of a large window and door manufacturer and have significant experience from scaling that business, bringing with them a wealth of contacts and a growth plan to take Alternative Windows to the next level and into new sectors.
The investment package was funded by Frontier Development Capital, part of Mercia Asset Management PLC, supporting the transaction and future growth.
Castle Square Corporate Finance, the Sheffield and Leeds-based deal advisory firm, and national law firm Irwin Mitchell advised the management team on the investment.
Kevan Shaw and Joe Potts from Castle Square advised on the funding negotiations, ran a structured debt fundraising process to obtain the funding, and project managed the transaction process.
Joe Potts said: "We are delighted to have advised the management team on the investment and are delighted to have worked with FDC to deliver the funding, so the management team are able to deliver the exciting growth plan they have for Alternative Windows."
The Leeds and Sheffield offices of law firm Irwin Mitchell, led by corporate partner Gavin Maddison and solicitor Luke Singleton, supported by solicitor Harry Maw, provided legal advice to the management team. The Corporate team was supported by colleagues in the Banking & Finance, Real Estate and Employment teams.
Luke Singleton added: "We are proud to have supported the management team through this significant transaction and look forward to seeing Alternative Windows thrive under their leadership."
www.alternativewindows.com
