Customade Group created by Cairngorm Capital during 2016 and 2017
Established in 1980, Customade is a specialist manufacturer of high-quality aluminium and PVCu windows, doors and conservatory roof products. Best known for its proprietary and market-leading REAL, Atlas and Fineline aluminium brands, the company operates from 100,000 square foot, state-of-the-art production and storage facilities near Gloucester. In 2016 it employed 320 people and achieved turnover in excess of £35 million.
Following earlier investments in Polyframe, WB Group, and Stevenswood’s manufacturing facility, the Customade acquisition was Cairngorm Capital’s fourth proprietary, off-market transaction in the window and door manufacturing sector since July 2016.
Customade subsequently merged with these three other Cairngorm Capital businesses, to create Customade Group – the UK’s largest independent trade windows and door manufacturer with the industry’s most comprehensive product offering, over £100m revenues, 900 employees and 10 manufacturing sites.
This development of the Customade Group is consistent with Cairngorm Capital’s strategy of investing in well-performing UK companies to support ambitious management teams in driving transformation, introducing new technology, broadening customer offerings and extending geographic reach.
Stevenswood acquired by Cairngorm Capital in 2016
Established in 1997, Stevenswood is the UK’s leading national, multi-profile distributor of windows, doors and conservatories. The company has over 30 trade counters in England, Scotland and Wales, generating revenues of over £40m with 165 employees.
The Stevenswood group has been built through a series of five proprietary off-market investments in Polyframe Trade Centres, Britannic Trade Windows, Window World, Truemans, and Stevenswood, all completed with the support of Cairngorm Capital over a nine month period.
Cairngorm Capital’s investment, from its first fund Cairngorm Capital Partners I LP, is representative of its ethos of actively partnering with management teams to provide operational expertise as well as financial support to accelerate growth in industry leading companies.
For more information on the transaction, please see the Stevenswood acquisition press release.