Solidor Group has received a ‘significant investment’ from DW3 Product Group, which has just been set up with the financial backing of private equity firm NorthEdge Capital, to form a ‘new and dynamic group of businesses’.
,This strategic investment for a significant shareholding in composite door pioneer, Solidor Group, will allow the business to accelerate its growth plan, expand its senior management team and to continue investing in operations, capacity and IT. It will also provide a firm platform, support and commercial resources for a ‘buy and build strategy’.
,DW3 Product Group is being headed up by CEO, Gareth Mobley, who is also the managing director of Solidor Group. Supporting him is an experienced board of ‘commercially minded’ directors, including the incoming chairman Stuart Lees, who is said to have ‘considerable expertise’ in corporate finance, growth and acquisition strategies with Epwin Group, Everest and Ultraframe.
,DW3 Product Group says it already has firm plans for acquisitions of businesses ‘with similar qualities to Solidor’ in the coming months, ‘which will help re-define the structure of the glazing industry’.
,Gareth Mobley will continue to be ‘actively involved in Solidor’, which will be making ‘a number of key appointments in the immediate future’. The established Solidor management team will continue to run the business on a day to day basis.