GROUP ANNOUNCEMENT

Posted by Media Master

We are delighted to announce that the complete shareholding of Architectural Glazing Limited, comprising English Architectural Glazing Limited (EAG) and Multifab Limited, has been acquired by UK private equity fund Elaghmore LLP.

Looking forward, Elaghmore will work closely with our directors and existing management team,  providing support to develop EAG’s resources and capacity, so we can work closely with new and existing clients on more numerous and larger upcoming project opportunities.

Following the acquisition, EAG will expand its pre-construction operations to increase the amount of work we can tender, giving a greater number of opportunities for our supply chain. In addition, further opportunities may well present themselves from the other façade and engineering businesses within Elaghmore ownership.

EAG is the eighth-acquisition made by Elaghmore from its private equity fund, Elaghmore I (Fund 1) which closed at the end of 2016. The investment strategy of the fund is focused on businesses that present a significant opportunity for growth. Elaghmore has a strong track record over the past decade, investing in, operationally supporting and successfully growing businesses.

Andy Ducker, Partner at Elaghmore, said: “EAG has a first-class reputation and track record, and is known as a high-quality contractor and manufacturer, offering excellent client service. With the operational support we can provide, the business has an exciting future, with a talented workforce that has a wide range of skills, knowledge and experience in design, engineering, manufacturing and fabrication. We look forward to working closely with the EAG team to grow the business.”

Commenting on the transaction, Simon Gladwin, Managing Director, EAG, said: “This is an exciting day for EAG, as we look to build the future and increase our client base.  We are excited about working with Elaghmore, whose financial backing and operational expertise will help us to expand the business and capture the growing market demand for our products and services.”