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HARDWARE & SECUR ITY
Strong and stable together
David Jennings, CEO of UAP, explains what steps the hardware specialist is taking to
minimise the impact of Brexit for its customers and how, since the buyout by private equity
rm, Maven Capital Partners, the business has changed.
www.ggpmag.com January 2019
With much of December
taken up with a battle
between the festive C
word and the political B
word, it’s been refreshing to welcome
in the New Year.
Yet there’s no escaping the
continued uncertainty surrounding
Brexit. Speaking to customers,
associates and industry bodies
over the past six months or so,
it’s obvious that many are feeling
frustrated (aren’t we all!) but
also, a little ill at ease about the
lack of stability both now and in
the immediate aftermath of the
deadline. I believe that once we
know the type of Brexit we are facing
that consumer confidence will be
renewed and we will see an uplift in
the demand across the fenestration
industry.
Yet I appreciate that such
positivity isn’t enough; couple Brexit
with the stop on fire doors and it’s
little wonder that stability is at the
forefront of all our minds. That’s
why, as a business, we have plans
to hold increased stock and control
product pricing, where possible, in
the event of a downturn in Sterling.
Our goal is to offer a safe haven in
turbulent waters for our customers.
The next level
We have been instrumental in many
industry firsts, helping to drive the
hardware and wider fenestration
industry forward. Our Fullex brand
was the first Secured by Design
member, for example; we were
the first to develop stainless steel
products, offer anti-bump cylinders
and get a letterplate through the
new fire tests for composite doors.
After 20 years of unrivalled product
development, we recognised that in
order to grow, fully support all our
customers and achieve our plans
for the UK market and abroad, we
needed to take UAP to the next
level, and to do that we needed
experienced investors to help guide
our business.
In September last year the buyout
of UAP by asset manager, Maven
Capital Partners was completed. To
realise our aspirations, it was crucial
that we partnered with a proactive
investor, one which shared our
vision for growth, and I strongly
believe that we have found that
partner in Maven. We have always
been a financially sound business
but with a powerful backer we have
been strengthened further still.
Customers now see a strong and
stable hardware supplier, and this
gives them confidence during these
tumultuous times.
Large-scale investment
Our biggest investment is being
made in operations which covers
stock inventory, warehousing and
logistics. This will mean we can
supply to our customers more
smoothly and they will have
increased confidence that we are
a port in the Brexit storm. With
increased expenditure for our
in-house product development and
test centre, we will be launching
some significant products which
will provide new and greater
opportunities for our customers.
The investment has also enabled
us to attract high level members
of staff and directors, adding to
our already extensive industry
experience. Since Maven Capital has
been involved, we have appointed
former managing director of Wickes,
David Pearson as chairman. Tim
Fairly, formerly managing director
of Performance Doorset Solutions,
joins as commercial director; Stewart
Lamb, former managing director
at VITA is our new export sales
director; Pat Rice, formerly sales
director at Masco, joins as business
development director and Bonnie
Hudson from Trutex joins as CFO.
Global strength
With more than 90% of our products
designed in the UK, customers can
also take confidence from our export
success, proving our position as a
strong and stable global business. We
export to 25 countries and we expect
to increase that during 2019. Our
new export sales director, Stewart, is
tasked with establishing dealer and
distributor networks across Africa,
Asia Pacific, US / Americas and the
Middle East. He is supported by our
loyal and long-standing partner,
Pan Huiyi, who will manage key
relationships across China, the Far
East and USA.
None of us has a crystal ball, not
least Theresa May, but regardless of
what happens in March and during
the inevitable fall-out, things will
get back on an even keel. As I said
recently, I can’t help thinking that
like the Millennium Bug, this time
next year we’ll all wonder what the
fuss was about! But for those that
need a little reassurance, there are
businesses like us who are prepared
to weather the Brexit storm, and
we’re happy to take passengers!
David Jennings
/www.ggpmag.com
