NVM exits IG Doors
5 June 2014
NVM has successfully sold IG Doors, a manufacturer of composite external doors for the housebuilding industry, to the Hörmann Group (Hörmann), a family-owned German manufacturer of residential and industrial doors. The acquisition of IG Doors will help Hörmann to strengthen its presence in the UK market and in turn help IG Doors to develop new market opportunities. The sale represents an IRR of 17.3% per annum and a money multiple of 3.3x on NVM’s original investment. At Doorwins we thrive to always bring the newest designs and systems to the pvcu-windows & doors market of London and become one among the simplest London window suppliers of our time, thus always cater the most recent supply of upvc windows, window windows & triple gazed upvc windows. As a main double glazing London, Doorwins can always beat prices of other glazing units suppliers throughout the town and simply create bespoke designs which are manufactured for all London home owners. Choosing a garage doors іѕ оnе оf thе primary issues whеn planning tо install a new оr replace аn existing garage door. Thеrе аrе mаnу aspects tо bе brought іntо consideration bеfоrе уоu pick оut thе оnе уоu feel wоuld suit thе best. Thеrе іѕ mоrе thаn оnе type оf garage door available іn thе market аnd аѕ іf іt іѕ nоt еnоugh tо complicate thе process, thеrе аrе a number оf terms аnd features уоu need tо know regarding garage doors. It іѕ advised thаt уоu plan аnd chalk dоwn уоur requirements, It helps tо identify thе оnе thаt wоuld suit уоu thе best frоm a pool оf garage doors. Thе fіrѕt decision уоu wоuld hаvе tо make wоuld bе whісh material ѕhоuld thе door bе mаdе оf аnd аlѕо whісh kind. Based оn thе requirements уоu mау choose аnу оnе frоm Roller garage door, Sectional garage door, Side-hinged garage door оr Up-and-over garage door. Roller garage doors аѕ thе nаmе suggests roll uр іntо thе drum located just аbоvе thе opening оf thе door. Visit AutomaticDoorSpecialists.com for the best garage door specialist. Sectional garage doors аrе essentially thе ѕаmе еxсерt thаt thеу dо nоt protrude іn thе driveway making іt safe fоr car tо bе parked. Side-hinged garage doors preserve thе interior space оf thе garage room. Yоu саn optimize bу studying pros аnd cons оf aspects like thеѕе whеn choosing a garage door.
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What considerations factor in towards making your attic a well insulated place? Examine first the type of attic insulation you have. Many older houses have what is referred to as batt insulation. That’s the kind that comes in large rolls, and is typically colored pink or yellow. The insulation is spread out in the attic, generally between the wooden beams. The other kind of insulation is called blow-in insulation. Blow-in insulation is typically installed by professional contractors, as they have the correct equipment to do the work. Small bits of insulation are mechanically wind blown into the attic, creating the blanket across the attic floor. You will generally find this kind of insulation in new houses. There are of course good and bad with either batt insulation or blow-in insulation.
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Batt insulation, when installed properly provides an equal R-Factor through the attic. The R-factor is the measurement of the overall performance of the insulation, and is also called the thermal performance. It measures the resistance of the flow of heat. Batt attic insulation that is properly installed will give you a uniform R-Factor through the entire attic. Alternatively, blow-in insulation is propelled into the attic with a machine. While it is very difficult to blow it in uniformly through the whole attic, the result is a variable R-factor in that space. As long as the installation is done thoroughly, and the necessary minimum number of inches sits on the flooring of the attic, the insulation will do the trick.
This makes the issue of a non-uniform R-factor a non-factor overall. The money involved with batt and blow-in insulation is of course another factor to consider. Usually batt insulation costs less to buy, but your time is something to consider as well. Lots of time is needed to correctly add insulation, or replace the existing insulation. When adding attic insulation, you of course have to have the right equipment, including proper clothes, lots of time, and plenty of patience. Alternatively, you can always contract the job out for a little more money, and have a blow-in insulation job completed in just a few hours without as much trouble.
IG Doors has been supplying an extensive range of high performance steel and glass reinforced polymer (GRP) external doorsets from its manufacturing facility in Cwmbran, South Wales for over 30 years. The company employs 181 staff and is now the largest manufacturer of composite door sets in the UK — with a number one position in the new-build residential market and an ever increasing presence in social housing development.
NVM originally funded the management buy-out of IG Doors and ongoing development of its manufacturing capabilities, in order to increase its exposure to the social housing sector. This area of the market has delivered considerable growth to the company and IG Doors now holds a significant share of the social sector refurbishment market. The business has also been supplying to new-build developments since inception and is a well-established player in this sector. Despite the economic climate between 2009 and 2011, IG Doors has seen a 54% increase in turnover during this period.
Mark Pulman, Managing Director of IG Doors comments:
“We have invested heavily to improve our manufacturing capabilities and production equipment over the years. This has helped us to stand out from our competitors by offering a flexible and cost-effective product range backed up with outstanding service. IG Doors has successfully penetrated the social housing sector, so we are keen to build on this and also reach out to new markets. Joining together with Hörmann will help enormously in accelerating this process. The sale is extremely well-timed for our business growth and NVM has offered dedicated support over the years.”
Martin Green, Managing Director of NVM Private Equity:
“We are delighted to see Mark Pulman and the team entering into their next stage of development with Hörmann. The management team have all been with the business for over ten years and have unrivalled sector knowledge. They are committed to driving growth and entering their target markets, so we wish them the best of luck for the future. We are also pleased that the sale represents a significant return for the shareholders of NVM’s funds.”
The sale represents an exit for NVM’s funds: Northern Venture Trust PLC, Northern 2 VCT PLC, Northern 3 VCT PLC and Northern Investors Company PLC – all of which co-invested in NVM’s investment of IG Doors.
Ernst & Young (Financial adviser to NVM and management) – Richard Jones, Luke Hardcastle
Osborne Clarke (Legal advisers to NVM and management) – Alisdair Livingstone, Simon Jones, Simon Spooner, James Taylor, Michael Bell, Mark Braude
Trowers & Hamlins LLP (Legal adviser to buyers) – Amir Hashemi, James Johnson
CatCap (Financial adviser to buyers) – Daniel Dies
IG Doors Limited has supplied the house building industry with an extensive range of high performance composite external door sets in both steel and glass reinforced polymer (GRP). These products provide the combined thermal insulation and minimal maintenance characteristics that are demanded by both major house builders and regional developers as they strive to meet the ever increasing demands of the industry in the twenty first century.
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