Devon manufacturer snapped up by Swedish giant

A Devon manufacturer of high-performance timber doors has been acquired by Swedish firm Lagercrantz.

Principal Doorsets manufactures and supplies specialist, high-quality and fire-resistant door sets.

Employing more than 60 staff at its based in Barnstaple the company supplies a range of niche sectors within the premium market.

These include healthcare establishments, educational facilities and high-end residential buildings.

Russell Stuart, chief executive of Lagercrantz, UK said: “It is really exciting to welcome another high quality, niche market leader to Lagercrantz UK. Principal Doorsets will add to our existing expertise within the broader fire safety space.

“We now look forwards to working side by side with the management team to continue to grow and develop the business in the years ahead.”

The company will continue under the continued leadership of founders Rob Llewellyn and Stan Bond and the company’s existing management team.

Rob Llewellyn said: “Finding the right home for our business was of paramount importance to us.

“In Lagercrantz we have a long-term partner that will provide a safe and stable home for our employees and customers, that shares our vision, culture and values, and will be able to support the continued development of the business.”

Llewellyn and Bond were advised by a team at PKF Francis Clark,  including Chris Bishop, Brad Anderson and Andrew Killick.

They acted as lead advisors to the shareholders, including managing the full sale process.

Damian Lannon, partner in PKF Francis Clark’s tax advisory team, in collaboration with the lead advisory team,  provided corporate tax advice.

Sell-side legal advice was provided by Kirill Bingham and Catrin Trefor of Clarke Willmott.

Buy-side legal advice was provided by Ben Devons and Tom Mawson of Marriott Harrison.