Growth capital investor BGF has completed a successful exit from Victorian Sliders®, the Welsh company behind the market-leading ECOSlide® sash windows.
The business has been acquired by Inwido, a major pan-European windows and doors conglomerate, generating a strong return of 3.2 x MM and an IRR of 36%.
Since BGF’s £14 million investment in 2021, and further £4 million follow-on investment in 2023, Victorian Sliders® has delivered significant growth from its headquarters in Ammanford, Carmarthenshire to become the UK’s largest manufacturer and supplier of uPVC sliding sash windows, renowned for energy efficiency and authentic period aesthetics. The company’s sales revenue has increased from £19 million in the year before BGF’s investment to £33 million.
Under the leadership of CEO Nick Evans, and with value creation expertise from BGF, Victorian Sliders® has grown to employ 280 people across depots and sales locations throughout the UK and Ireland. Throughout this period of growth, the business has been guided by the strategic leadership of Mark Huxtable, who joined the board as Chairman at the time of BGF’s investment.
Victorian Sliders® is the UK’s only fully integrated specialist manufacturer of uPVC sash windows. Demand is being driven by the replacement of ageing timber windows, as well as the need for heritage-style alternatives in conservation areas. The company has benefited from rising interest among homeowners and landlords seeking cost-effective, durable and energy-efficient solutions – particularly as household energy prices remain high.
Now in its 20th year, Victorian Sliders® operates from a state-of-the-art production facility manufacturing around 1,750 windows each week, supported by a dedicated hardware manufacturing site in Foshan, China. In 2025, the business achieved ‘Secured by Design’ certification and the internationally recognised ISO 9001 quality accreditation, alongside the launch of a new ECOSlide® Flagship Window, designed and engineered by its dedicated in-house innovation team.
Nick Evans, CEO of Victorian Sliders®, said:
“BGF has been a great partner for us. Their backing gave us the confidence and capital to invest in high tech equipment, scale our operations and strengthen our position in the market. We’ve built a fantastic team and a business that leads the way in both quality and sustainability. I’m proud of what we’ve achieved with BGF’s backing and it’s an exciting next step to join Inwido where we can build on these successes.”
The deal was led by investors Edwin Davies and Hannah King in BGF’s South West and Wales team. Exit advisory support was provided from Kroll (Investment Banking), Grant Thornton (Vendor Financial Due Diligence), CIL (Vendor Commercial Due Diligence) and Hugh James (Legal).
Edwin Davies, Investor at BGF and board director of Victorian Sliders®, said:
“It’s been fantastic to work with Nick and the team as they’ve built Victorian Sliders into the UK’s leading manufacturer of uPVC sash windows. Since our initial investment in 2021, the business has scaled impressively, strengthened its operations and stayed true to its commitment to sustainability and innovation – setting a high standard for the sector. It’s a great example of how long-term partnership and investment can help an ambitious management team realise its full potential.”
Dafydd Evans, Managing Director at Kroll, said:
“We are delighted to have advised both BGF and the management team on the successful sale of Victorian Sliders to Inwido, Europe’s leading supplier of windows and doors. BGF has a strong track record of partnering with management-owned businesses, and we look forward to seeing Victorian Sliders continue to grow under Inwido’s ownership. This transaction further reinforces Kroll Investment Banking’s position as a leading advisor in the building products sector and highlights our deep expertise in executing cross-border transactions.”
