Wed, 21 Dec 2011 | BUSINESS SALE
The well-known double glazing firm Everest is inviting offers for the business and has hired the corporate finance company Clearwater to seek a new buyer.
It is thought most likely that a private equity firm will purchase Everest, which could be worth between £50 million and £100 million.
The Hertfordshire-based firm was established in 1965, and has grown to become a highly recognised brand. It was famous for its adverts in the 1980s, which featured the late television celebrity Ted Moult, and its slogan “Fit the best”.
It has broadened its range to answer its customers’ home improvement needs, including conservatories, kitchens, roofline products - including guttering and cladding - security systems, garage doors and driveways.
Servicing the whole of the UK, the firm has more than 900 employees, 900 sales consultants and 700 installers, according to its website.
Everest’s management team, led by Simon Jarman and the investment firm Hutton Collins, has a large stake in the business whilst Brian Kennedy, the Cheshire-based entrepreneur, is the largest shareholder.
It is understood the firm had earnings of £10 million this year before interest, tax and other non-cash charges.
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