Following the recent acquisition of Village Glass, the Synseal Group reports that it has now completed a refinancing with the support of its current investors and funders, H.I.G. and Proventus, who have provided substantial further funds to continue their support for the growth and integration of the group.
The refinancing is said to have resulted in a ‘significant strengthening of the group’s balance sheet’ and ensures that Synseal is positioned to ‘solidify its market leading positions in PVC-U profile and conservatory roofs, and to take advantage of its strategic growth areas of glass, entrance doors and aluminium window and door products’.
The Synseal Group has developed from a £70m turnover extrusion business prior to the MBO in 2010 to a £160m turnover multi material supplier to the fenestration industry with positions in PVC-U and aluminium window and door systems, GRP and timber doors, Insulated glass units for windows and roofs, conservatory roofs and portal frame structures. The group reportedly employs more than 1,500 people across seven sites.
H.I.G. is a global private equity and alternative assets investment firm with more than €20 billion of equity capital under management. Based the U.S with affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specialises in providing both debt and equity capital to small and mid-sized companies.
Proventus Capital Partners is an active credit investor and loan provider to Northern and Western European companies in need of capital for expansion, acquisition financing, restructurings and refinancing.
www.synseal.com
www.higcapital.com
www.proventuscapitalpartners.se
