Tue, 20 Aug 2019 | BUSINESS SALE
English Architectural Glazing Limited (EAG) has been snapped up by private equity fund Elaghmore as the eighth acquisition of its initial PE fund.
Thought to be one of the top construction contracting businesses in the UK, EAG is at the helm of the envelope cladding sector and specialises in the construction of complex and dynamic building facades. Established in 1985, the company currently employs 125 people across its three sites in Norfolk, Suffolk and Staffordshire.
In spite of the acquisition, the company’s existing management team will remain on board to help expand its operational capabilities. This will ensure they capitalise on the growing requirement for aluminium rain screen cladding and off-site unitised cladding manufacturing.
Presently, EAG provides its services to a number of long-standing clients like Stanhope, Kier, BAM and Skanska, and conducts its projects primarily in London and South East England.
Andy Ducker, a partner at Elaghmore, said: “EAG has a first-class reputation and track record, and is known as a high-quality contractor and manufacturer, offering excellent client service. With the operational support we can provide, the business has an exciting future, with a talented workforce that has a wide range of skills, knowledge and experience in design, engineering, manufacturing and fabrication. We look forward to working closely with the EAG team to grow the business.”
Elaghmore’s acquisition is part of its investment strategy to focus on businesses with significant growth and value-creating opportunities.
Managing Director of EAG, Simon Gladwin, commented on the deal, saying: “This is an exciting day for EAG, as we look to build the future and increase our client base. We are excited about working with Elaghmore, whose financial backing and operational expertise will help us to expand the business and capture the growing marketing demand for our products and services.”
Broad spectrum of building engineering services including facilities management, electrical projects, refurbishments, electric vehicle charge points and heating and gas services.
LEASEHOLD
Turnover of £5m, with an EBITDA of £500k. Utilises years of experience in the sector to provide high-quality solutions that create exciting, innovative and sector-leading outdoor spaces.
FREEHOLD
Long-standing client base spanning 40 years including county, district and housing associations. Large forward order book with untapped tender opportunities, generating reliable revenue streams for the business.
FREEHOLD
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