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Polyframe and Stevenswood swap trade shops for factory
29th November 2016

Polyframe Group Ltd and Stevenswood Ltd today announced a deal that will see Polyframe hand over its 11 trade centres to Stevenswood and in return acquire the Scottish fabricator’s 55,000sqft factory. The two companies declined to say whether any cash is involved in the transaction.

The move will see Stevenswood not only grow its trade centre chain to 26 sites but will also take it outside Scotland with units in England, Wales, Northern Ireland and the RoI.

It brings Yorkshire-based Polyframe’s manufacturing capacity to six factories. A spokesperson confirmed to The Glazine that its newly-acquired factory in Livingston will continue to fabricate Veka, adding a third PVC-U window and door system to its existing Halo and Rehau offering. The deal is understood not to involve any commitment for Stevenswood to source from the factory; the spokesperson said the company wants to be flexible in offering its window and door customers more choice.

Polyframe was subject to a management buy-out earlier this year Read Story. A statement from the group today says following the MBO and a subsequent strategic review, it was decided that its core fabricating activities would be best served by separating the trade centre business.

Following today’s announcement, the 11 former Polyframe centres – totalling 70,000sqft of showroom space – will be rebranded as Stevenswood by the end of the year. Nicholas Summers, Managing Director of Polyframe Trade Centres Ltd, will join the Stevenswood team to help deliver its ambition to become a national trade counter business.

Jon Gatfield, Polyframe’s Group Managing Director, said today: “Our stated aim is to be the market leading trade fabricator of high quality windows and doors in the UK. This transaction allows us to focus our attention and investment to increase manufacturing capability, strengthen product development and expand Polyframe’s product range for the benefit of our customers.”

Ron Hepburn (pictured), Chief Executive of Stevenswood said, “Our goal is to increase our network of trade centres over the next five years, through a combination of further acquisition, new branches and organic growth to become the leading trade counter distributor in the UK. The purchase of the PTC network from Polyframe is the first step towards achieving this.”

Investors, Cairngorm Capital will retain their existing holding in PTC, which will be combined with the Stevenswood group and ensures Stevenswood has access to deep capital resources to fund its continued growth.

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