The management team of Synseal announced today that it had purchased the share capital of Synseal Extrusions Ltd and Allerford Holdings Ltd from Gary Dutton MBE for an undisclosed sum.
The successful culmination of several months of negotiation was concluded with the partnership of H.I.G. Capital Ltd a global private equity business.
David Leng, Chief Executive commented:
“We are very excited to be driving Synseal through its next period of growth. We can see some great opportunities for ourselves and our customers in a fragmented window and conservatory market. We have a very strong manufacturing and logistics base that delivers first class product on time, every time, and we aim to make that really count for our customers.
Synseal has historically grown by offering the right product at the right price and we will be developing those values in the future.
Our customers can expect to see an increase in pace of product development and more help with marketing and new markets.”
“We are delighted to be supporting David and his team in working to consolidate the window and roof extrusion industry. Synseal is a great business and will do very well in a tough market place” said Paul Canning Managing Director of HIG.
Tags: gary dutton, HIG Capital Ltd, mbo, Synseal, synseal extrusions ltd
Another company swallowed into a bigger one. Should provide more stability though.
…..making Mr Dutton a seriously wealthy man. Wonder if he wants a sugar daughter? lol
Well done Mr Dutton — I hope what he got is at least half of all those wild estimates
And, I’m sure it is good for the business long term as well – things do move on
What are the chances of Gary Dutton coming on here to say a little something about the MBO?!
I can guarantee that Gary won’t be visiting this website!
Well done RCG for being the first to break the news. Does this mean we have to retune the antennae away from the magazines and e-zines to pick up the latest info from now on? Editors beware!
Hi Purple Neil. Yes, very funny. No, I was lucky enough to secure this ’scoop’ but for all other industry news I’m usually the last to know!
Hi
Thanks for your interest in our MBO. We have partnered with HIG as they are our finance providers and are keen to invest in our growth. Our business plan is for significant growth by helping our customers and as such we do not expect any job losses – quite the reverse we are actively recruiting for a number of roles as we speak.
best wishes
Hi David
Thanks for stopping by.
As a customer, I see the MBO as a very positive move for Synseal, its staff and customers. For me, the continuity of dealing with the existing management team was preferable to Gary selling out to a third party.
Gary has done a phenominal job in building one of the most forward thinking, profitable and stable extrusion companies in the UK. When Nick took control of the sales and marketing side Synseal stepped up a gear, and it was during that period that Conservatory Outlet became a customer.
As with any supplier/customer relationship, there’s been minor niggles, but I’m very happy to be with Synseal, and I really mean that.
If the new management team shares the values of Gary and Nick, and do indeed increase product development and improve marketing support, then I can only see the Conservatory Outlet / Synseal relationship strengthening.
I look forward to sitting down with you in the near future and hearing your plans.
Regards
Matthew
Matthew
Thank you for your kind words.
Dealing with you and Andrew in my days at Synseal was always a pleasure, especially given the enthusiasm you both had to build the fantastic business you have.
Looking forward to many more years trading with you at Door-Stop.
Very kind regards
Nick
Blumming heck Nick – I didn’t realise you read my blog!
Yeah – agreed! Speak soon!
Greetings Matthew,
I’m very pleased to have happened upon your blog, and kudos to you for getting the scoop on this transition. Best wishes to all parties involved!
There is little information regarding the industry here in America, (other than what I can glean from Iain McInness and Barry Dunlop) and we anxiously await the Tuesday edition of the Glazine to keep abreast of the happenings on your side of the pond, and whether our suppliers are thriving or perhaps suddenly in Administration.
I’ve now found a new media source with real time information. Thanks for launching it and I look forward to following your blogs!
Kindest regards,
Peter Therriault
Conservatory Source USA
Greetings Peter
Really pleased you happened upon my blog. You won’t be far from the mark following the Glazine, Iain and Barry.
My site has actually been here for 2 1/2 years now, but always great to get new followers, especially from overseas.
Matthew
And we strive to always be on the cutting edge here…
It is indeed nice to have found your site, and that we can now do international business without a fax machine, and get a timely response!
Please feel free to keep us in mind should you require any info or updates about our market here. That is, we’re finally creating a market…
Kindest regards,
Peter Therriault
ConservatorySource.com
Hi Peter
Thank you. I’ve always struggled with fax machines. I seem to have a mental block and press the wrong buttons usually.
I don’t always respond quickly, especially if I’m asleep.
I’m always keen to hear different opinions. I’ve included guest posts from Alan Stein from Tanglewood Conservatories before (based in US) and am always keen to hear different points of view.
Regards
Matthew
Greetings Matthew,
You certainly are a witty chap, and it’s nice to have a little levity in these often challenging economic times. I’m also keen to be able to keep my finger on the pulse of the UK market through your shared dialogue, as we are so far removed here.
I also understand the sleep issue, as you all start your day many hours before we do… You won’t find me on many conference calls at 8 am your time. Or on your blog for that matter.
My apologies to Iain for inadvertently adding an extra “s” to his surname yet again in my previous post. Perhaps just too many Guinness’ imbibed in my past to remember it’s McInnes.
At any rate, I appreciate being welcomed into your group, and look forward to the opportunity to contribute!
Kindest regards,
Peter Therriault
ConservatorySourceUSA.com