Brathay Investments acquire European Wood Products Limited
7th September 2010
The Manchester office of North West independent leading accountants and business advisers, Cowgill Holloway LLP has announced the acquisition by Brathay Investments of a major shareholding in European Wood Products Limited (trading as European Door Sets) from owners Paul and Alison Bailey. European Door Sets is an Ormskirk based UK supplier of high performance timber door sets to both the commercial and public sector markets.
Brathay is an investment vehicle for two leading North West businessmen, David Rogan and Peter Cowgill, the well known entrepreneur. Brathay has ambitions to significantly grow the business by continuing to build on the company’s existing reputation to expand the customer base.
Paul Bailey who established European Wood Products Ltd in 1990 has retained a significant equity stake and will continue as a director and with Paul’s brother Neil remaining as Sales Director, the family will retain its link with the business.
The company operates out of a 25,000sq ft manufacturing plant, using the latest state of the art machinery. Through continued investment and a dedicated management team the company has become a leading UK doorset manufacturer providing services to a variety of sectors including education, healthcare, leisure and residential development.
The transaction was funded by Brathay and The Royal Bank of Scotland, with legal advice provided by Bristol based Lyons Davidson. The vendors were advised by corporate finance firm Ballard Evans, Napthens Solicitors and Kinsella Clarke Chartered Accountants.
David Rogan said: “I’m very excited with the completion of this deal and I’m confident that European Door Sets has a very healthy future. We have funds available for further acquisitions and will be looking for suitable opportunities, particularly in the timber sector.”
The deal was negotiated and structured by Robin Prestage of Cowgill Holloway Corporate Finance who commented: “We are delighted to have identified this exciting opportunity for Brathay and to have helped them complete their first acquisition. We believe European Door Sets offers great growth potential.”
Chris Salt, Relationship Manager at RBS, added: “Brathay have acquired a successful and well established business. The team impressed us with their future plans and we are very happy to provide them with the financial support to secure this deal.
The information was correct at time of publishing but may now be out of date.