Cotswold Architectural Products Ltd (CAP) has been acquired by three of its senior management.
The company, headquartered in Cheltenham with an office in Mumbai, was previously owned by Caldwell Manufacturing Company, prior to Assa Abloy’s 2022 acquisition of Caldwell, when it was not a part of the sale.
It has been bought by CAP Managing Director Tim Ferkin, ex-Caldwell Manufacturing Company CEO Eric Mertz, and Umesh Gamaithe company’s general manager in India.
Tim Ferkin said: “We’re pleased to have been able to complete the management buyout, which will enable an acceleration of the group’s growth and investment plans. We have already established a manufacturing subsidiary in India to increase our production capacity and, with the deal completed, we can now press on with the next stage of our growth strategy.”
He continued: “With sellers in the US and operations in the UK and India there were many complications and hurdles to overcome, but we are delighted to have completed the deal and look forward to a bright future for Cotswold Architectural Products.”
Simon Chapman and Phil Stevens from Burgis & Bullock’s corporate finance team advised the management team on the transaction. Chapman commented: “We are delighted to have supported the management team in this acquisition, working with the sellers in the US and two subsidiaries in India to facilitate the cross-border deal.
“Tim, Eric and Umesh have ambitious plans for the business and we look forward to following their success.”
https://www.cotswoldap.com/
