Growth capital investor BGF has announced a £14million investment in Victorian Sliders that will enable the manufacturer it to double its production capacity as well as develop its recycling facility.
The move will give BGF a 31% stake in the manufacturer and see founder and CEO Scott Starkey, CFO Ian Cunningham and the management team joined by BGF investor Edwin Davies on the board along with Mark Huxtable as non-executive chair.
This is the latest inroad by BGF into the sector after its investment deal with Brisant-Secure http://www.the-glazine.com/?p=2423 and trade counter group Northern Building Plastics http://www.the-glazine.com/?p=2470 earlier this year.
Victorian Sliders has end-to-end production facilities, from recycling of raw materials through to extrusion and fabrication of sliding sash windows operating from a purpose-built 240,000 square foot production facility based in Carmarthenshire, South Wales.
Scot Starkey said of the move: “This investment will enable us to grow faster, support our customers better and expand our existing team of highly skilled and dedicated employees.
“Victorian Sliders offers an unrivalled service in the replacement of sash windows. The business has been built on a strong product offering and we have constantly invested in our facilities over the years. Today’s funding from BGF will enable us to realise our growth potential and, along with Ian Cunningham (CFO) and the rest of the management team, we are extremely excited about the future.”
Edwin Davies said: “The company has an impressive product range and some very exciting growth plans, which we are looking forward to helping them deliver. We’re particularly excited about investing in a Welsh manufacturing business, as the country is home to many of the UK’s most ambitious growth economy companies. Through the provision of equity investment and our board support, we’re sure Victorian Sliders is destined for an exciting future.”
The deal was led for BGF by Edwin Davies and Hannah Waters, who worked with Scot Starkey and Ian Cunningham at Victorian Sliders, supported by the team from Lexington Corporate Finance.