Thu, 12 Jun 2014 | BUSINESS SALE
Roofing entrepreneur Mr David Tilley has come out of retirement to purchase Mitrepoint Ltd, which trades as Roofclad Systems.
Mr Tilley sold his former roofing company D W Tilley in 2008 to outsourcing firm Mitie, in a deal exceeding £7.5 million. He retired over a year ago following his restrictive covenants at Mitie Tilley expiring.
His latest venture – the purchase of Mitrepoint, which he funded himself - will see the creation of up to 12 new jobs at the County Durham-based business.
Established in 1978, Roofclad Systems is to carry on trading under its existing name. It has a 44-strong workforce and yearly sales of £3.3 million. All of the jobs are to be retained in the acquisition.
“I heard about the opportunity through industry contacts and could not turn down the chance to acquire the oldest established roofing and cladding contractor in the North East,” Tilley explained.
“While Roofclad is trading strongly with some good contracts, I will be reviewing every aspect of its operations in the short to medium-term.”
First off he said he will secure the business, then restructure, before expanding. “I’ve been looking for the right opportunity to get involved in business again for just over a year and I’m more than ready to take on a new challenge.”
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