Weekly Email News for the Glass, Glazing & Fenestration Industries

Synseal agrees refinancing deal
29th August 2017

The Synseal Group says it has completed a refinancing with the support of current investors HIG and Proventus in the wake of its acquisition last year of the domestic manufacturing assets of Essex processor Village Glass.

In a statement, the group says the two investors “have provided substantial further funds to continue their support for the growth and integration of the group.”

It continues: “The refinancing has resulted in a significant strengthening of the group's balance sheet and ensures that Synseal is positioned to solidify its market leading positions in PVC-U profile and conservatory roofs, and to take advantage of its strategic growth areas of glass, entrance doors and aluminium window and door products.”

When Synseal announced the acquisition, including an 80,000sq ft domestic IGU factory Read More, CEO David Leng said it left the group in a position to exceed £150million turnover in 2017.

Sysneal Group has invested more than £10million in the Global Glass division since 2011. The Essex factory is the third major acquisition in four years for the division, along with K2 Conservatories of Blackburn and Systems Glass of Wigan.

The group is currently rebranding the division as Global Glass Essex.

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