International hardware supplier, Cotswold Architectural Products, has been acquired by Coventry based Caldwell UK.
Caldwell UK is part of the American Caldwell Manufacturing group – which is a family owned American based global operation founded in 1888. Its UK operation is one of the leading European designers and manufacturers of specialist window hardware products and systems.
Caldwell has reportedly made the acquisition as part of a global strategy to increase its presence in economies such as China, Brazil, India and South Korea.
Cotswold, which has a 50 strong manufacturing team, currently supplies its hardware into 56 countries globally and also regularly creates bespoke options for fabricators across the UK, including Polyframe, Safestyle Metal Technology and Kawneer.
Leaders at both companies are keen to stress that they will remain as separate entities – with nothing changing operationally at Cotswold.
Alistair MacAulay, managing director at Caldwell UK, now also becomes MD at Cotswold. Alistair commented: “What I want to make clear is that the good work being carried out by both parties will continue as it is. The acquisition is good news for both companies and customer bases – 2014 is set to be a year of economic growth for the UK and Cotswold will be maximising opportunities and launching a number of exciting initiatives going forward.”
Iain Morgan, who was managing director at Cotswold prior to the acquisition, will remain involved in the business and is now working as a consultant to the board.
Iain said: “The Caldwell acquisition will mean further investment, which is good news for our customers both in the UK and abroad.”