National Window Fabricator completes management buyout with support from Shawbrook

Billboard
  • Glazerite set for new ownership following buy-out of founding shareholders, John Hewitt and Jason Thompson
  • Led by MD, Rob Brearley the business is now primed for growth as it meets continued demand for home improvement facilities
  • Shawbrook Bank supported the business with a tailored £8m ABL facility

Glazerite UK Group Ltd, one of the UK’s largest window manufacturers and uPVC specialist, has completed a management buyout and is set for further growth with a £8m ABL facility from Shawbrook.

Founded in 2000, Glazerite UK Group Ltd is a leading national fabricator of uPVC Windows and doors and has become the largest VEKA Trade fabricator in the UK.  Headquartered in Wellingborough and with additional manufacturing sites in Bolton and Peterborough, the group generates annual sales in excess of £35 million.

With the upsurge of home improvements over the last 18 months, the business has seen a continued demand for its products. At the same time, the principle shareholders had recruited a new and highly experienced Managing Director, Rob Brearley to lead the business and progress its growth plans. The shareholders were then looking to retire from the business.

The deal sees the management team, led by Group Managing Director Rob Brearley, acquire the business from founding shareholders John Hewitt and Jason Thompson with an £8m Asset Based Lending solution from Shawbrook. The funding solution incorporates invoice discounting, property and machinery and a cashflow loan.

 

Rob Brearley, Group Managing Director at Glazerite UK Group Ltd said:

“Working with Nick, Mark and the team at Shawbrook has made what could have been a complex process as straight forward as possible. The group there took the time to understand the business and the multiple aims of this transaction. The integrated funding package they came back with was spot on, providing the flexibility to support both the buyout and our growth plans.

 “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.”

 

Nick Salmons, Relationship Director at Shawbrook Bank, commented:

“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”.

Don Gray and Joe Briggs from BHP Corporate Finance acted as lead advisors on the transaction. 

Don Gray, Partner, commented: 

“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”