Next Wave Partners LLP (NWP) has acquired Roof-Maker from its founders, Rachel Owen and Scott Nicholas, for £30 million.
Roof-Maker, based in Leicester, is described as a ‘fast growing, vertically integrated’, UK based ‘omni-channel retailer’ of premium, high performance rooflights, skylights and bi-fold doors. Pricoa Capital Group Pricoa provided senior debt and also invested in the transaction.
Rachel Owen and Scott Nicholas have re-invested alongside NWP and banking partner, Pricoa, along with members of the existing management team. The business will continue to operate from the facilities in Leicester and Mr Nicholas will remain in the role of chief design officer.
Ms Owen and Mr Nicholas started the business in 2001 with a £5,000 investment generated by selling their car. Over the last 15 years, Roof Maker claims to have enjoyed rapid and continued growth to become a market leader.
Rachel Owen said: “When we founded the business, our goal was to produce products and service that we would want from a supplier ourselves.”
Scott Nicholas added: “Rachel and I have really enjoyed building up Roof-Maker over the last 15 years into the leading manufacturer and supplier of rooflights in the UK. However, we recognised that the time was right to find a strong partner with experience of growing businesses such as ours, in particular developing export opportunities. We are very excited about the future and looking forward to working with the NWP team, Pricoa and the Roof-Maker management team over the coming years to achieve more success together.”
Dean MacKenzie, partner of NWP, said: “In a market underpinned by government legislation surrounding CO2 emissions and our desire for greater natural light (and space) in our homes, Roof-Maker offers bespoke products with superior thermal insulation and solar gain efficiencies delivered to site within days of being ordered.
“It is a pioneer in its market and primarily sells direct to end-users undertaking home improvements and renovations across the UK. We were impressed with the degree to which the business has harnessed the internet to drive sales, thereby disrupting and bypassing traditional and established routes to market and its leading social media presence. The business enjoys one of the highest Trustpilot ratings across the entire building products sector.
“We are delighted to have been able to invest in such a great company and are excited by the opportunity to work with the management team to take the business to the next level.”
Paul Mildenstein, CEO of Roof-Maker, said: “Roof-Maker has been an amazing success story and we want to build on that success moving forward. With Next Wave Partners and Pricoa’s support, I feel very confident we have found the right partner to grow the business domestically and internationally.”
