Equity investment deal agreed for building products distributor
Growth capital investor, BGF, has invested in Northern Building Plastics to support its growth ambitions.
The value of the deal has not been disclosed, but BGF’s initial investments are typically between £1m and £15m.
Northern Building Plastics is a specialist distributor of uPVC plastics and building products to trade customers.
Led by co-founders, Judah Wilson and Richard Lindop, the business opened its first super depot in Leeds in 2010, followed by a second site in Bolton in May 2018.
John Browett joins the business as non-executive chair and brings leadership experience from high profile CEO and board roles at Dixons, Dunelm Group, Tesco.com and Apple.
His appointment is the result of an introduction from BGF’s Talent Network, which is the UK’s largest pool of non-executive directors.
Wilson said: “BGF’s backing will accelerate the growth of the business through expansion of our service and delivery capability and extension of our product range.
“We have built a good relationship with the BGF team who understand our long-term ambitions and have track record of successful investments in our sector.
“We’re also delighted to be announcing the appointment of such a high calibre non-executive chair in John. His experience will add significant expertise to our business in this next phase of growth.”
Barry Jackson and Sophie Issacs from BGF led the deal.
Jackson said: “With an experienced and entrepreneurial management team, this is a business that understands its market and is capable of significant scale.
“Northern Building Plastics is trusted by its customers because of its quality products and the fact its super depots allow the business to provide much greater stock availability and a next-day delivery service across the UK.”
Paul Herriott, at Dow Schofield Watts, said: “Northern Building Plastics’ differentiated business model and the ambition of its management team have made this a compelling equity investment proposition.
“BGF has proved to be the best partner to support this next phase of growth and we are delighted to have advised on sourcing and structuring the investment in the business.”
