The Glazerite UK Group has been acquired in a management buyout.
Led by group managing director Robert Brearley the management team includes Mark Johnston (group finance director), Jeff Dunn (group sales and marketing director), Darren Rhodes (managing director, north west), and Matthew Thomas (managing director, east).
The MBO completed on July 9, with the new team acquiring 90% of the business and former chairman John Hewitt retaining 10%.
“Glazerite is an incredible company, and much of what has been achieved so far is down to its people,” Robert said.
“With strong leadership and a talented and passionate team across the group, the business has grown way beyond any expectations. With ambitious growth plans and continuous investment over the years, it’s proudly sitting as a major player in the industry.
“The business is in good stead for the future, and we have some innovative and exciting plans in place to build on our offering as we look to take Glazerite to the next level.”
Glazerite was founded in 2000 by John Hewitt and Jason Thompson and has seen a tenfold growth in that time. The company now employs around 270 people at its sites in Bolton, Peterborough, Wellingborough and Bristol.
The Veka Group, Glazerite’s main supplier, welcomed the move.
“We have a solid, long-standing and vital partnership with Glazerite and they have always set the bar high in terms of an offering from a fabricator,” managing director, Neil Evans said.
The new management team is equipped with drive, experience and expertise to shape the incredible business built by John and Jason as it moves to the next level.
“It’s always good to see some fresh perspective and ambition within our customers and we look forward to working together on our common long-term goals.”
Sarah Hitchings, sales and marketing director at Window Widgets and The Residence Collection, said: “We have been partners for a long time and look forward to continuing our partnership with the company under its new leadership.
“Having been part of the team who led the buyout of Window Widgets and The Residence Collection, I understand the rollercoaster of emotions the team will have been on. I know from experience how the process can mark an exciting shift in culture, service, and relationships.”
The MBO was put together by Don Gray of BHP Corporate Finance, with funding from Nick Salmons at Shawbrook Bank.