Glazerite UK Group, the £26million-sales Veka fabricator has been acquired by management buyout led by recently-appointed group managing director Rob Brearley.
The management team also includes Mark Johnston, group finance director and Jeff Dunn, group sales & marketing director, with Darren Rhodes, managing director (North West) in charge of the group’s Bolton operation, and Matthew Thomas, managing director (East) in charge of Peterborough.
John Hewitt, chairman and co-founder of the group who has already stepped back to devote more time to his We Mind & Kelly Matters charity read story, will no longer be chairman but will retain 10% of the business.
Rob Brearley said: “Glazerite is an incredible company and much of what has been achieved so far is down to its people. With strong leadership and a talented and passionate team across the Group, the business has grown way beyond any expectations. With ambitious growth plans and continuous investment over the years, it’s proudly sitting as a major player in the industry.
“The business is in good stead for the future and we have some innovative and exciting plans in place to build on our offering as we look to take Glazerite to the next level.”
Glazerite was founded in 2000 by John Hewitt and Jason Thompson and has grown to become one of Veka’s biggest fabricators, employing around 270 people at its sites in Bolton, Peterborough, Bristol and its Wellingborough HQ. The company produces around 3,500 frames a week based on Veka and its Halo brand along with the Residence Collection.
Veka Group, has welcomed the move. Managing director Neil Evans said: “The new management team is equipped with drive, experience and expertise to shape the incredible business built by John and Jason as it moves to the next level. It’s always good to see some fresh perspective and ambition within our customers and we look forward to working together on our common long-term goals.”
Sarah Hitchings, sales & marketing director at Window Widgets & The Residence Collection, which itself was subject of an MBO in 2019, added: “We have been partners for a long time and look forward to continuing our partnership with the company under its new leadership.
“Having been part of the team who led the buyout of Window Widgets & The Residence Collection, I understand the rollercoaster of emotions the team will have been on! I know from experience how the process can mark an exciting shift in culture, service, and relationships. I wish the team luck with the next chapter of this already very successful business.”
The MBO was put together by Don Gray of BHP Corporate Finance, with funding from Nick Salmons at Shawbrook Bank.
Pictured: Rob Brearley, centre, with (l to r) Mark Johnston, Jeff Dunn, Matthew Thomas and Darren Rhodes.