Nash & Co Capital advises Cairngorm Capital on its investment in Polyframe
Nash & Co Capital is proud to announce that is has successfully introduced and advised Cairngorm Capital on its investment in Polyframe Group Limited (Polyframe), in support of a management buy-out by its executive team.
Our construction team’s relentless focus on the construction supply chain on a cross-border basis (since 2002) gives Nash Fitzwilliams unique access to and understanding of often proprietary M&A opportunities in our sector.
Established in 1992 in Halifax, Yorkshire, Polyframe is the UK’s largest independent manufacturer and distributor of trade windows and doors. It operates four manufacturing facilities producing windows and composite doors for the installer market and has 12 trade centres distributing its products to smaller builders and local tradesmen. Collectively Polyframe employs 470 staff across the UK and will generate revenues in excess of £50m in 2016.
The acquisition, led by Ian Macdougal, Polyframe’s CEO, was prompted by the retirement of founder and Chairman, Martyn Buckley. Ian is supported by fellow Polyframe directors Jeremy Stott, Peter Dyson, David Eagle, and Nick Summers. Oliver Robinson, a Cairngorm Capital operating partner, is joining the team as interim COO and James Faulds, the newly appointed Chairman, will oversee Cairngorm Capital’s interests and drive the strategic vision.
Ian Macdougal commented on the investment, “We are really excited to be partnering with the team at Cairngorm Capital. They have invaluable experience in the window and door market, both operationally and as investors, upon which we are keen to capitalise.”
Cairngorm Capital’s investment was led by Andrew Steel, Managing Partner, who added, “Polyframe is a superb business with exciting growth opportunities and a strong management team. Our involvement will allow Ian and his team to introduce a range of measures that will enhance the quality of the Polyframe’s services, extend its product range and ultimately benefit customers and suppliers.”
Martyn Buckley, founder of Polyframe commented, “Having built my company to become the industry leader over the past twenty-five years, it is pleasing to pass it on to such a strong management team. The team at Cairngorm Capital has demonstrated flexibility, integrity and determination in completing this investment despite the turbulent financial markets following the Brexit vote.”