Sustainium, the new group set up by industry veteran Neal Harper to acquire retail installation businesses, says it is in talks with eight companies is looking to announce the first deal within weeks.
The group was created to target small business owners looking to sell or retire – or lack the resources or investment to grow their business – initially focussing on those in the Midlands and the M5/M4/M40 triangle.
He said of the project: “Over the years I’ve met many owners of window companies who want to sell or retire, but domestic double glazing companies are notoriously difficult to sell. Some of these owners have spent years building a great name and reputation, and have loyal staff they want to look after.
“My aim is to acquire a small number of these firms and continue the great work of these owners.”
He added that major uncertainly over the last few years, from the 2016 Referendum and Brexit, elections and now the Coronavirus Pandemic have been the ‘final straw’ for many business owners:
“Some firms have had a surprise upturn in work, but the reality is it is harder than ever to run a business and maintain margins, with rising costs and more demanding customers. Red tape and onerous regulations are adding fuel to the fire, so it’s no surprise many business owners are looking for a way out – especially if they’ve been in business a long time.”
His plan is that companies will become part of the Sustainium Group brand but will continue to trade under their existing name, adding that potential sellers may want to stay on in a consultancy or advisory role in the business.
