Glazerite, the UK’s largest privately owned manufacturer of windows and doors, has agreed a £7m refinancing facility to support its ambitious growth plans and drive further innovation within the industry.
Glazerite, which was established in 2000, is headquartered in Wellingborough in Northamptonshire and has several manufacturing facilities across the country including Barnsley, Bolton, Bristol and Peterborough.
Employing around 300 people, the company manufactures up to 4,000 windows and doors a week and has the capability of producing 9,000 different product combinations for its 1,000-strong business customers.
Rob McGlennon, managing director of Glazerite, said the funding deal would support the business as it targets revenue growth of around 20% to reach more than £40m.
Rob said: “This refinancing deal is a significant milestone for our business, and we are grateful to Praetura for its support. We were looking for a lender that not only understood our growth ambitions but could also provide the agile, decisive support we need to capitalise on strategic opportunities in the market.
“It is a time of significant change in the windows and doors market, with several major players facing challenges. We are well-positioned to capitalise on these market dynamics and expand our customer base through both organic growth and targeted acquisitions.”
The refinancing deal with Praetura Commercial Finance was facilitated by accountancy firm BHP’s Commercial Finance team, led by head of Commercial Finance Dan Summerfield.
Dan Summerfield, head of BHP Commercial Finance, said: “Glazerite is a highly impressive, well-run business with a clear vision for the future. We’re delighted to have played a key role in securing this refinancing, which will provide the company with the firepower to accelerate its growth plans and thrive as a leading innovator in the windows and doors sector.”
Henry Wheeler, Regional Sales Director, at Praetura Commerial Finance said: “Glazerite is a first-class, fast growing business and we are thrilled to be supporting Rob and his team as they accelerate their ambitious plans.
“Working with BHP has been a pleasure, and we look forward to working closely with Dan and the team as Glazerite continues its exciting growth journey.”
Rob added: “We’re always on the lookout for the right acquisition opportunities that can strengthen our capabilities and geographic reach. The support from Praetura and the team at BHP gives us the confidence and resources to pursue these strategic initiatives and take Glazerite to the next level.”
