Gloucester-based Window Widgets has been acquired by the existing UK management team from USA-based Masonite International Corporation through an MBO. The terms of the deal were not announced.
The UK management team includes Sarah Hitchings (Sales and Marketing Director), Michael Hart (Technical Director), Richard Bonner (Operations Director) and Gregory Pigott (Finance and Commercial Director).
Window Widgets supplies a wide range of accessories and ancillaries, along with The Residence Collection of premium windows and doors to over 800 trade customers throughout the UK and Ireland. This change in ownership will see the business revert to an owner/managed entity that will be built on entrepreneurial flair and spirit.
Under the new ownership, the directors are already looking to implement an investment programme to support further growth, with bold ambitions for the future direction of the business.
The deal completed on the 13th December 2019 and was led by the UK management team with financial advice from Cattaneo Corporate Finance, legal advice from Legal Clarity and financial support from Shawbrook Bank.
Sarah Hitchings, Sales and Marketing Director of Window Widgets commented: “I along with the other three directors of this business are thrilled with the deal, something that’s good for the workforce and within the market sectors we operate in. We now have an opportunity to invest, innovate and realise the considerable potential of this business and we’re eager to put our plans in place and to drive this business further forward.”