Quanex Building Products Corporation has acquired Flamstead Holdings, including HL Plastics, Wegoma Machinery Sales and Vintage Windows. The deal was announced jointly by Flamstead Holdings’ Roger Hartshorn, and Quanex’s chairman, president and CEO, Bill Griffiths.
Quanex, a North American supplier of energy efficient window and door systems and components with over $600m in sales listed on the New York Stock Exchange, has said that it only acquires ‘strong business partners that have a deep commitment to customers, are eager for growth and are considered technological leaders in the fenestration and related industries’.
Hartshorn commented: “I am excited about our future with Quanex as I believe the combination of our outstanding companies will help to drive us even further forward and accelerate growth secured by a strong, financially sound industrial organisation.
“By remaining financially involved and continuing as Group CEO for a minimum of five years, I am ensuring it will be ‘business as usual’ for staff and customers alike.
“My commitment has always been to launch new and exciting products for the benefit of our customers, and to generate employment opportunities to stimulate the economy – and with Quanex resources behind us, we will unlock the potential to achieve even greater success.”
Quanex has a track record of success in the UK and European markets, having acquired Edgetech in 2011.
Bill Griffiths was on site at Flamstead’s headquarters in Derbyshire to help announce the news to staff at the three companies and answer any questions. He said: “The businesses Roger and his team have built are a great fit with the Quanex philosophy and we’re delighted we’ve been able to agree a deal that includes his continued involvement for the long term future. We plan to work with Roger and his team to take the Liniar and Wegoma ranges to the next level through innovation and collaboration.”
Tarpey Harris and Flamstead Investments, the remaining companies in the Flamstead Group owned by Hartshorn, will see no change, with Roger reaffirming his commitment to the business and retaining overall ownership.
