Halifax, 8 July 2016: Polyframe Group Limited, the leading manufacturer and distributor of trade windows and doors, announced today that its senior management team has successfully acquired the Polyframe group of companies.
Polyframe began serving customers in 1992 with the vision of offering an unrivalled level of reliability, flexibility and customer service, along with the most extensive product portfolio within the PVCu and aluminium sector. Since then Polyframe has grown into one of the largest manufacturing companies of PVCu and aluminium windows, and composite doors within the UK, with a group turnover exceeding £50m.
The acquisition, led by Ian Macdougal, Polyframe's CEO, was prompted by the retirement of founder and Chairman, Martyn Buckley. Ian is supported by fellow Polyframe directors Jeremy Stott, Peter Dyson, David Eagle, Richard Lee and Nick Summers. Oliver Robinson, will join as interim COO and Jim Faulds joins as non-executive Chairman.
Ian Macdougal said, “The outlook for our industry is strong and extremely positive. This, together with the quality of our operations and the calibre of our staff were the deciding factors in our acquisition. As part of this transaction, we have been fortunate to secure funding from Cairngorm Capital, a specialist investment firm which has considerable expertise in our industry, both as an investor but most importantly for us, operationally. Together as partners, we will have the resources and the expertise to make Polyframe the definitive supplier of choice.”
Cairngorm Capital's investment was led by Andrew Steel, Managing Partner, who added, “Polyframe is an excellent example of the sort of business in which we like to invest - it is the leading competitor in its market with attractive growth opportunities and a highly capable management team. Our involvement will allow Ian and his team to pursue their strategy of enhancing the breadth of Polyframe's offering, to the benefit of customers, employees and suppliers”
Martyn Buckley, founder of Polyframe commented “Having built my company to become the industry leader over the past twenty-five years, it is pleasing to pass it on to such a strong management team. The team at Cairngorm Capital has demonstrated flexibility, integrity and determination in completing this investment despite the turbulent financial markets following the Brexit vote.”