Conservatory Outlet acquires Pennine Home Improvements
Conservatory Outlet has acquired one of its largest retail customers – Newcastle-based Pennine Home Improvements – for an undisclosed sum
Funding to support the deal has been structured by Allied Irish Bank (GB).
As one of the top 2% of fabricators in the UK by volume, Conservatory Outlet manufactures high-quality windows, doors and conservatory products from its 60,000ft2 facility, supplying to a retail network of 24 installation companies that operate across the UK. This latest strategic acquisition is set to take the group’s turnover to £25m – a five-fold growth over the past seven years.
Greg Kane, CEO of the Conservatory Outlet Group, said: “We’re delighted to announce that Pennine Home Improvements and Conservatory Outlet have joined forces, bringing the manufacturing hub of our business closer to the customer than ever before.
“Pennine has been part of our network of retailers for just over three years, and has experienced an impressive 30% growth in that time, largely due to its highly committed management team and excellent internal processes.
“I’m certain our new vertical partnership will facilitate a level of knowledge-sharing never before seen in this market, which will further support the growth and development of both businesses.”
Pennine Home Improvements will continue to operate as a separate retail business from its existing showrooms in Benton, Gosforth Park, Birtley and Ponteland.
The combined ownership of the two businesses will allow further development of the Group’s product offer, processes and service features around the needs of the ultimate end-user.
“The deal can only be of benefit to our wider network of independent retailers, of whom we’re extremely proud and equally as committed to supporting as ever – if they grow, we grow,” Greg said.
Mark Tinnion, managing director of Pennine Home Improvements, said: “Our customers are at the heart of everything we do, and being closer to the manufacturing process can only enhance that.”
From left: Derek McLaren (sales director of Pennine), Graham Auld (former owner/MD of Pennine), Michael Giscombe (MD of Conservatory Outlet), and Greg Kane (CEO of Conservatory Outlet Group).