UAP has announced that it has acquired Yorkshire-based internal door hardware company, Intelligent Hardware.
According to UAP, the acquisition adds an ‘enviable range’ of hardware for internal doors, including Round Rose handles, to the UAP product offering. UAP adds that this has created cross-selling opportunities between UAP and Intelligent Hardware, benefitting door manufacturers, fabricators and specifiers.
The purchase reportedly marks the start of a series of planned acquisitions by the Manchester-based hardware specialist, with a second and third said to be already under negotiation.
UAP says that acquisition is a key part of its strategy, supported by ‘significant’ private equity funding from Maven Capital Partners, following the management buyout of UAP in September 2018.
David Jennings, CEO of UAP, said: “My decision last year was done to not only protect the future of my family but also protect and grow the interests of UAP, and a significant part of that is the support to acquire new businesses. Given the delicate state of the market, we are prepared for speculative opportunities that may arise.
“Intelligent Hardware is a valuable addition as they have a fantastic brand and reputation.”
UAP is actively encouraging any company that is finding the market difficult to consider, joining the UAP group of companies.
