Avocet Hardware out of administration

Avocet Hardware has been sold by its administrators as a going concern saving 108 jobs. The company was placed in the hands of restructuring specialist Duff & Phelps last month.

It has been sold to L Fibrelok Ltd and RTMV Jain Ltd, both operating companies of the Atlantic Group - which took over Eliza Tinsley Ltd, one of the UK’s leading suppliers of chain, rope, hardware and accessories, in 2006, - in a last minute deal on Friday night.

Several suitors had been in the frame including a major window systems supplier, and several companies had been looking at buying parts of the business as separate entities.

The deal is Atlantic’s fourth in six years and all previous turnarounds of struggling companies have been successful.

Andrew Stoneman, Joint Administrator, Duff and Phelps, said: “We are delighted with the outcome of this administration.  Not only was Avocet sold as a going concern but we managed to secure the jobs of 108 employees.

“Over the past month we have had a number of detailed discussions with a number of different parties who wished to acquire all or parts of the business. This is a fantastic result for all concerned.”

You can read the full press statement from Avocet here.

Please send all your news stories to news@the-glazine.com or should you wish to contact me directly tony@the-glazine.com

Tony Higgin
Publisher

We Have Email

Cylinder Snapping

I read with interest your leader last week about the issue of cylinder snapping as highlighted by West Yorkshire Police. The comments you printed from Chief Superintendent Paul Money focused on the fact we need better and stronger locks that can resist attack, but what the piece failed to acknowledge is that the industry’s security standards were revised to take account of this several years ago.
Read the Rest Here...

Zoom Systems to K2 Conservatories

I’d like to thank K2 for a gratuitous Zoom name check in their recent release in the Glazine (14.2.12). They were crowing about Ramsdale Home Improvements moving from Zoom Systems to K2 Conservatories.
Read the Rest Here...

This Week's News

The Atlantic Group Acquires Avocet Hardware Limited

The Atlantic Group announced the acquisition of Avocet Hardware Limited on Friday 24th February 2012.

The Atlantic Group (which includes Eliza Tinsley) is a market leading hardware business which manufactures and distributes hardware products - including chain & rope, fixings, fasteners and general hardware into the major UK DIY retailers and independent trade markets.
Read the Rest Here...

2012 Predictions

Forecasts are again all the rage as the world throws up news of financial weakness, collapse, threatened collapse, currency swings, Ponzi schemes, and of course that great magic illusion, the money-pots of Quantitive Easing.
Read the Rest Here...

Eurocell makes it a hat-trick with building awards 2012

Advances in post-consumer recycling and innovative new product development are just two of the reasons for Eurocell being shortlisted for the third consecutive year in the prestigious Building Awards 2012.
Read the Rest Here...

Construction staff could be entitled to work uniform tax rebates

Staff in the construction industry who have to wear a uniform to work could be entitled to claim for a special tax rebate, according to workwear specialists Alexandra.
Read the Rest Here...

Alumet Group named Business of the Year

Construction specialists The Alumet Group were named Business of the Year on Friday 17th February at the very first Pride of Stratford Awards held at the Holiday Inn, Stratford. The Alumet Group fought off tough competition from the likes of Enable International and Pink Connect who also operate in the local area of Stratford-upon-Avon.
 
The Alumet Group were awarded the first title of the evening by Touch FM DJ Ben Day.
Read the Rest Here...

Saint-Gobain Glass Scrums Down for Sports Advertising

Saint-Gobain Glass has signed a major advertising deal that will see the PLANITHERM brand splashed across pitchside boards during Rugby Super League games on Sky Sports, Fox Sports, and the BBC this season. PLANITHERM was also advertised during the recent Scotland vs. England Six Nations Rugby Union game in February, which attracted a huge audience.
Read the Rest Here...

Carl F Groupco and FUHR
celebrate 50 years

A landmark half century partnership has been celebrated by hardware distributor Carl F Groupco and door lock manufacturer FUHR. The established names in the fittings industry attribute their 50 year relationship to a shared focus on product quality and service standards.

Significant innovations from FUHR introduced over the last five decades, which have been distributed by Carl F Groupco, include high security locks and electronic systems.
Read the Rest Here...

Lucky 7 for Selecta Systems

Leading PVC-u profile extruder Selecta Systems has made a storming start to 2012 and converted seven fabricators to their Advance 70 window system since the turn of the year.
Read the Rest Here...

Bowater Architectural catches the CAB

Bowater Architectural – the curtain walling and aluminium window brand of the VEKA Group – is now a member of the Council for Aluminium in Building (CAB).

Formed in 1994, CAB is now the largest UK aluminium in building trade association with well over 100 members across the supply chain and provides services such as technical information, guidance on regulations, standards, best practice and its publications.
Read the Rest Here...

VEKA Commercial team hits the road

Following Veka’s acquisition of Bowater Building Products, their commercial team has taken to the road with an arsenal of new products, providing innovative solutions that meet the current agenda for sustainability, and include VEKA's Infinity recycled profile system, Bowater Architectural's System10 Aluminium window and curtain-walling systems, double rebate composite doors from Bowater Doors and Halo's System 10 SmartSash Window.
Read the Rest Here...