Manufacturer secures £7m refinancing facility to unlock further growth
Glazerite UK Group, a privately owned manufacturer of windows and doors, has agreed a £7m refinancing facility to support its growth plans and drive further innovation within the industry.
The refinancing deal with funder Praetura Commercial Finance was facilitated by accountancy firm BHP’s Commercial Finance team, led by head of commercial finance Dan Summerfield.
The new financing will enable Glazerite to invest in machinery, technology and facilities and expand its product offerings.
Glazerite, which was established in 2000, is headquartered in Wellingborough in Northamptonshire and has manufacturing facilities across the country including Barnsley, Bolton, Bristol and Peterborough.
Employing around 300 people, the company has capacity to manufacture up to 4,000 windows and doors a week and can produce up to 9,000 different product combinations for its 700-strong business customers.
Rob Brearley, group managing director, said the funding deal would support the business as it targets growing revenue to £40m.
He added: “This refinancing deal is a significant milestone for our business, and we are grateful to Praetura for its support.
“We were looking for a lender that not only understood our growth ambitions but could also provide the agile, decisive support we need to capitalise on strategic opportunities in the market.
“It is a time of significant change in the windows and doors market, with several major players facing challenges.
“We are well-positioned to capitalise on these market dynamics and expand our customer base through both organic growth and targeted acquisitions.
“BHP has been instrumental in helping us secure this facility with Praetura. The team’s collaborative and transparent approach, combined with a deep understanding of our business, has been invaluable throughout the process.”
Dan Summerfield, head of BHP Commercial Finance, said: “Glazerite is a highly impressive, well-run business with a clear vision for the future.
“We’re happy to have played a key role in securing this refinancing, which will provide the company with the firepower to accelerate its growth plans and thrive as a leading innovator in the windows and doors sector.”
Henry Wheeler, regional sales director, at Praetura Commerial Finance, added: “Glazerite is a first class, fast growing business and we are thrilled to be supporting Rob and his team as they accelerate their ambitious plans.
“Working with BHP has been a pleasure, and we look forward to working closely with Dan and the team as Glazerite continues its exciting growth journey.”
