United Glass Group has bought an insulated glass manufacturer in Devon with the backing of \u00a33m funding from its owner, Duke Royalty.<\/p>\n
Premier Double Glazed Units, based in Newton Abbot, will become part of the group that already includes Brownhills Glass Company, Tufwell Glass and London Architectural Glass.<\/p>\n
UGG chief executive Mark Harrison said the acquisition “marks a significant milestone in UGG’s journey towards becoming a national leader in the glass processing industry”.<\/p>\n
He added: “This strategic move, supported by our capital partner, solidifies our position and propels our buy-and-build strategy forward. With a strengthened platform and a clear vision for growth, we are poised to drive long-term success and deliver exceptional value across the industry.”<\/p>\n
Premier was founded in 1996 and now employs around 35 people, manufacturing double-glazed and triple-glazed units.<\/p>\n
The acquisition follows on from Duke completing a secondary share purchase earlier this year, which increased Duke’s equity stake in UGG to 73.8%. It has now invested \u00a315.0m into the Walsall-headquartered group through its royalty investment model, which sees repayments adjusted up or down based on the performance of the business.<\/p>\n
Neil Johnson, chief executive of Duke Capital, said: “This latest funding increases our total investment in a partner which has consistently delivered since we first commenced our partnership in 2018.<\/p>\n
“It is pleasing to see UGG successfully executing its buy-and-build strategy, expanding its presence as a national leader in the glass processing market.”<\/p>\n
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Glass group’s acquisition is ‘significant milestone towards becoming a national leader’<\/p>\n","protected":false},"author":18,"featured_media":15945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7],"coauthors":[81],"class_list":["post-15942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-manufacturing","tag-black-country","tag-devon","tag-featured-story"],"yoast_head":"\n