YFM Equity Partners is investing £3.3m into The Heritage Window Company, a specialist manufacturer and supplier of slimline aluminium windows, to fund a management buyout (MBO) and development capital to meet increasing sales demand.
,The MBO is led by managing director, Sean Ballard, and former CEO of Anglian Home Improvements, Peter Mottershead, who is joining the board as non-executive chairman.
,The UK market for aluminium windows is estimated to be worth around £250m per annum. The Heritage Window Company was founded by Geoff Dolan in 2000 and is said to be the only British company to craft slim style aluminium framed windows under the Benenden range. In 2007, the Benenden range was featured in Channel 4’s The Grand Designs Art Deco House Project. Geoff Dolan will continue working alongside management post transaction.
,Sean Ballard is leading the MBO having joined the business in early 2012 as managing director. Since he joined the business, sales are said to have increased by 25% to £6.2m and continue to rise. As part of the MBO, Philip Maskell, finance director at GTK, another YFM Equity Partners portfolio company, will join The Heritage Window Company as part-time finance director.
,The company manufactures all of its windows to order at its headquarters in Bellingham, South London. It employs 46 staff across its manufacturing facilities and showrooms in Beaconsfield, Dorking, Bellingham and Sevenoaks.
,Commenting, managing director Sean Ballard said: “The Heritage Window Company has high repeat business from satisfied customers who use us for their home improvement and renovation projects. Over 20% of our sales last year were as a direct result of customer referrals, and testament to our ethos of quality and service. We are delighted to have Peter on board to bring his wealth of industry experience and his success from Anglian Home Improvements. His expertise will no doubt help us to expand The Heritage Window Company brand and business throughout the UK.”