The former CEO of Anglian Home Improvements and current managing director of The Heritage Window Company are joining forces to lead a buy-out of Heritage.
The £3.2 million deal is funding the management buy-out and providing development capital to meet growing sales demand. Set up in 2000 by Geoff Dolan, the aluminium framed windows firm has experienced growth of 25 per cent in sales since managing director Sean Ballard joined in 2012.
Joining Ballard at the head of the deal is Peter Mottershead, former CEO of Anglian Home Improvements and new non-executive chairman at Heritage.
Ballard says that he is ‘delighted’ to have Mottershead join and bring his industry experience and prior success in building similar companies.
Commenting on the company’s new backer, Ballard adds, ‘YFM Equity Partners has a proven track record of expanding and rolling out UK businesses and developing brands, they introduced us to Peter at an early stage to help with our plans and we look forward to working with him as our new chairman.
‘YFM have been true to their word in every sense and they have delivered what they said they would.’
More on recent YFM deals:
- Internet of Things venture nets £2 million
- MBO for Intelligent Office UK backed by YFM
- YFM invests in industrial business with growth ambitions
From its headquarters in London and four other national sites, Heritage currently employs 46 staff and manufactures all windows to order at its head office. Its Beneden range was featured as part of The Grand Designs Art Deco House Project on Channel 4 in 2007.
Jamie Roberts, investment director at YFM Equity Partners, says, ‘The Heritage Window Company has a great reputation and it is leading the way in the market with its new unique A-rated energy efficient aluminium framed window range.
‘We are pleased to be able to bring our experience from other transactions to help Sean and the team transform the growth and expansion plans.’