Glazing Vision, one of the world’s leading manufacturers of glass roof solutions has recently been acquired in a multi-million pound deal by its management team from the company’s founder, in a deal which will enable the business to take a leap forward, despite current global uncertainty.
Glazing Vision operates from a 65,000 sq ft factory in Diss, Norfolk, but through a growing operation in the USA and multiple distribution channels across Europe, Asia, and most recently, Australia, sells off the shelf, standard and completely bespoke glass roof solutions to clients wanting to add a ‘wow’ factor to their projects. Significant further international expansion is now planned for the business.
After 25 years of trading, and with over 100 staff, the company has become the largest manufacturer of rooflights in the UK. With appearances on national television for glass rooflights on some of the most prestigious buildings in the country and celebrity clientele, the main shareholder felt it was the right time to sell his majority stake. It was an opportunity not to be missed for the management team, which consists of 3 current minor Director/Shareholders and 3 new management team members all now further engaged to drive the business forward.
Price Bailey’s Strategic Corporate Finance team, led by Stephen Reed, was engaged to advise on the transaction and to help management raise the necessary finance to support the transaction. Given this was during the early stages of the pandemic, the lending market was understandably cautious, but with the positives surrounding Glazing Vision, coupled with the specific expertise of Price Bailey in MBOs of such manufacturing businesses, the transaction was able to be completed with funding from Allica Bank.
Jon Shooter, Managing Director of Glazing Vision said:
We are delighted to have been given this amazing opportunity to continue the growth of Glazing Vision. I would like to thank all the people involved in making this deal happen. Price Bailey have been with us every step of the way and introduced us to many people and gave us sound advice at every juncture. Howes Percival were always on the end of the phone and going the extra mile and of course Allica Bank, as soon as I read the reasoning for their name, I knew they were going to be the right bank for us!