Speed Bump

Windows of opportunity in Aldridge; ACQUISITION

0 Comments | Birmingham Post (England), The, August 30, 2007

Aldridge-based window and conservatory supplier Best Value Conservatories has acquired rival Laird Lifestyle Products for an undisclosed sum.

Laird Lifestyle Products, also based in Aldridge, supplies doors, windows, shower enclosures and conservatories, mainly to DIY retailers.

It was bought from Laird Security Systems – the business acquired earlier this year by investment firm Lupus Capital.

The Davies family, owners of Best Value Conservatories, had originally started Laird Lifestyle Products as British Home Doors before selling to management in 2001.

In 2004, BHD went into administration and was aquired by Laird Group. In April this year, Laird sold the business to Lupus.

Derek Davies, who founded BVC in 2005, said: “The business is a principal supplier of windows, doors and conservatory products to the main UK DIY retailers and trade operators. The combined business will have a turnover in excess of pounds 25 million.”

John Kaleta, BVC’s managing director said the deal was an exciting opportunity to capitalise on the increased volume available to the firm’s manufacturing facilities. Pat Moore of Horwath Clark Whitehill, who advised on the management buy-out in 2001 and was lead advisor to BVC on the current deal, said: “This was a very unusual transaction and the code name ‘Project Full Circle’ was very apt.

“The BVC team and the advisors all pulled together and completed the transaction in a very short time frame for the benefit of both Best Value Conservatories and Lupus Capital.”

Catherine Eley, of Eversheds, who had also given legal advice on the sale of British Home Doors in 2001, said: “We are delighted that Derek and the BVC team are back at the helm and wish them well in their expansion plans.”

The deal was also backed by the Royal Bank of Scotland.