Somerset-based double glazing, door and conservatory manufacturer has been bought out of administration by RDCP Group.
The deal will give RDCP a 98% stake in Majestic Windows, a £2m EBITA business. Majestic Windows is a family run double glazing company based in Cheddar, which consists of the manufacturing company Majestics Window Designs and its sister retailing and installation company Majestic Designs.
The company has been in operation for over 20 years, with a focus in the Somerset area. James Martin, Majestic Designs managing director will remain with the business becoming group managing director and will work closely with RDCP leadership, Sameer Rizvi, Iryna Dubylovska and Paul Clunn.
Funding to assist the transaction has been structured by SME Capital, which has provided a five-year funding structure to assist with RDCP’s latest transaction. This is led by SME capital regional director, Stuart Watson and Neil Sharp, director at TML Finance and Advisory, who structured the lending package to assist with the purchase.
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Mr Rizvi, founder and chief executive of RDCP Group explained: “Majestic Windows is our first acquisition in the manufacturing sector and is an important step forward for RDCP as we increase our strategic capital allocation towards UK manufacturing businesses. Majestic is a well-established business with an excellent reputation and customer base. We look forward to working with James and the team to expand the business further. We are long-term investors which means we work closely with the management team to help them deliver on the potential of their businesses.”
Mr Martin added: “For over 20 years, we have been serving Somerset homeowners with our outstanding service and building our reputation as the best in the business. We’re delighted to be joining the RDCP Group. This can only improve our service offering and we are looking forward with enthusiasm to what can be achieved.”
Mr Watson said: “RDCP has identified Majestic Designs (UK) as another excellent acquisition. Majestic Windows has a first class reputation in the sector with a proven management team. The acquisition will take Majestic Windows to the next level of their growth strategy as RDCP will be able to support their geographic spread into Bath, Bristol & Exeter.
“We have been pleased to support RDCP in this further acquisition with a five year loan including a capital repayment holiday and bullet repayment structure to help with the initial integration and maximise cash headroom given continued macro-economic uncertainty. This is another introduction from Neil Sharp of TML Finance & Advisory. Also thanks to Matt Ingram & team at Squire Patton Boggs.”
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