Double swoop for Stoke investment group
NEWLY formed investment firm DW3 Products Group (DW3) has acquired two businesses: Window Widgets and Eclectic Systems.
The acquisitions bring the total number of companies within Stoke-on-Trent-based DW3’s portfolio to four, with the new additions sitting alongside Solidor and Nice Door Panels.
The acquisitions follow investment from private equity firm NorthEdge Capital in November 2014. Their investment provided support for Gareth Mobley and the management team to pursue its buy-and-build strategy, which has seen the creation of DW3 Products Group.
Gloucester-based Window Widgets was founded in 2004 and provides components for the window, door and conservatory sectors.
Eclectic Systems, also based in Gloucester, is best known for developing the Residence 9 (R9) window system.
The two businesses have been acquired from Dan Gill, who will now take on the role of CEO of the DW3 Products Group Window Division and join the main DW3 board.
Mobley, CEO of DW3, said: “This is fantastic news and an incredibly exciting investment for us.
“Under Dan’s stewardship, R9 has grown exponentially over the last three years, while Window Widgets has become hugely important as an industry favourite for fabricators from all corners of the UK and Ireland.
“Dan has an exceptional talent for developing truly game-changing products.
“The combination of our know-how and shared passion to re-define the industry we know so well creates significant potential for the group.”
Jon Pickering and George Potts led the deal for NorthEdge Capital.
DW3 and NorthEdge were advised by Dom Orsini and Mark Smith of Altium, Chris Heatlie at BDO, Steve Heath of KPMG and Andy Phillips of Pinsent Masons.
No monetary value has been put on the deals.
