Northamptonshire-based manufacturer of glass and roofing systems, Double R Glass and Roofing Systems (Double R), has secured a £1.4m funding package to help facilitate a management buy-in which will ensure the business’ stability long into the future and support its next phase of growth.

The facility was reportedly completed in just 15 days and was provided by Praetura Lending.

Double R has been producing high quality glass products, including sealed glass units, decorative panels and conservatory roof kits, since 2000. The products are manufactured and distributed to customers across the Midlands, East Anglia and the South of England.

Funding was delivered by Praetura through a £1.4m asset based lending (ABL) facility. This included working capital provided by the invoice finance division and plant & machinery (P&M) supported by the asset finance division of Praetura Lending.

The new owners now plan to review the business and optimise production lines for maximum output. Improvements to the footprint within the roofing division are also expected to enhance operational efficiencies as the business moves into its next phase of growth.

Max Doyle, finance manager, Double R Glass and Roofing Systems, said: “We are extremely pleased with the outcome of this process. The speed and professionalism shown throughout gave us real confidence, and the funding ensures continuity for our employees, stability for our customers and suppliers, and a strong foundation for the future.

“The collaborative approach taken by everyone involved helped the transaction move forward smoothly, and we are excited about the opportunities this now creates. Jeff Greenfield’s responsive and pragmatic approach supported the efficient progression of the deal and meant that the wider team remained aligned throughout.”

Jeff Greenfield, sales director, Praetura, added: “It was a pleasure working with the team at Double R. Their clarity, engagement and openness allowed us to move at pace and deliver the funding they needed within a tight timeframe. In situations like this, where timelines are critical, having a flexible funding solution in place and direct access to Praetura’s senior management team can make all the difference in enabling a smooth ownership transition and providing certainty for employees and customers.

“This transaction demonstrates what can be achieved when everyone is aligned around a common goal, and we’re proud to support a business with such a strong reputation, loyal workforce and valued customer base as it moves into its next phase of growth.”