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Polyframe acquired by MBO
12th July 2016

…'an elegant solution’ – Nick Dutton

Polyframe Group, said to be the UK’s biggest independent window and door fabricator with sales in excess of £50million, has been acquired for an undisclosed sum by a team of its senior managers led by CEO Ian Macdougal (pictured).

The acquisition, backed by investment firm Cairngorm Capital, was prompted by the retirement of the group’s Chairman and founder Martyn Buckley. Alongside Ian Macdougal are fellow 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.

The deal was largely overseen by former CEO Nick Dutton, who has since moved on to focus on his part in Brisant Secure, and who this week told The Glazine the move was ‘an elegant solution’ for the Chairman and the team.

Polyframe operates from four manufacturing sites and 12 trade centres around the UK, employing some 470 staff. It fabricates PVC-U windows from the Veka Halo and Eurocell systems in Halifax – the original site where it was founded in 1992 – and from Rehau in Norwich. A second unit in Norwich manufactures aluminium from the Sapa Crown and Smarts Visifold 1000 systems, while a purpose designed unit in Mansfield produces composite doors.

Ian Macdougal said of the move: “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.”

Martyn Buckley added: “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.”

Nick Dutton, who was appointed CEO in March last year but stepped down to become non-executive director in August, left that post a few weeks ago as the deal was nearing completion, to commit himself entirely to Brisant Secure and its Ultion lock. This week, he told The Glazine: “The deal is a very elegant solution for Martyn who wants to retire from the business, an enthusiastic and ambitious management team and a great investment opportunity for Cairngorm.”

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