Speed Frame PVC Limited, the largest PVC-U window, door and conservatory manufacturer in the UK, has secured funding for its future growth

Endless LLP, a new Yorshire-based buyout and turnaround fund, the funds will be used to reduce bank debt and provide working capital for future expansion.

In its first transaction, Endless is injecting £13 million into Speed Frame. The investment will help ensure its service is maintained for customers, and will assist in the ongoing expansion of the business. Speed Frame fabricates between 7,000 and 10,000 frames a week for customers such as Barratt Homes, George Wimpey and Persimmon.

The funding helps consolidate the position of the £35 million turnover business employing 500 people at Goldthorpe, near Rotherham, South Yorkshire.

Speed Frame also announces the appointment of Malcolm Smith as Chief Executive to lead the company through its next phase. In his three years as Chief Executive of Dairy Farmers of Britain, Mr Smith undertook two acquisitions and led the UK's leading dairy farmers' cooperative from a £1.5 million loss to a £600,000 profit.

Commenting on the deal, Ian Harrison, Executive Chairman, Speed Frame PVC Limited, said: ‘We have invested heavily in the past three years in making this Company one of the leaders in Europe.

‘We are enormously grateful to Endless LLP for arranging this deal, which will underpin our next stage of growth. What we particularly admired was the speed with which Endless put the deal together, as well as the professionalism of its advisory team. We can now look to the future with renewed confidence of our strong position in our UK and international markets.'

Within 24 hours of meeting Ian Harrison, Gary Willson, joint founder of Endless, had signed heads of terms to invest in the business. Willson is a former Ernst and Young insolvency partner.

Switch to Synseal

Speed Frame has also added switched suppliers for conservatory roofs. Synseal's Global roof and SynerJy suite is now in its product portfolio.

Explains Ian Harrison, Speedframe's Executive Chairman: ‘Recently we have seen an increase in the number of orders for conservatory roofs. We knew we wanted to switch suppliers for roofs and looked at Global. And while we were looking at Global we saw the benefits of having the windows in the same colour profile. So we've added the SynerJy suite too. Adding a new profile supplier is a big decision for us.'

He adds, ‘With Global and SynerJy we can provide a full service - and the Global roof and the new top specification EnerJy window from Speed Frame is available now.'

Source

Glass Age