Foresight Group, a leading listed private equity and infrastructure investment manager, has announced a £3.75 million investment into Rooms & Views, a North Wales based manufacturer of uPVC windows.
Headquartered in Flintshire and operating a second manufacturing site in Tredegar, South Wales, R & V is a leading manufacturer of uPVC windows, supplying housebuilders directly and tradespeople through a network of depots located across Wales and the West Midlands. The Company works with over 40 housebuilders and offers an expanding in-house design team as well as its core manufacturing and installation services. Today, R & V operates across 40,000 sqft of manufacturing space, employs over 150 people and manufactures over 60,000 windows per annum.
Foresight has acquired a majority stake in the Company with Managing Director, Kevin McClure, and the senior management team remaining. With Foresight’s investment, the Company will look to accelerate growth through establishing an additional manufacturing capacity and the rollout of trade counters; allowing for the exploration of adjacent sectors, where customers demand high quality products and an excellent service.
The investment has been made through Foresight’s North West focused fund, the Foresight Regional Investment Fund III (“FRIF III”) which is managed by Foresight’s nationwide private equity team, with an office in Manchester dedicated to supporting the deployment of the Fund. The predecessor fund invested in 17 local companies, working closely with management in each case to support their growth plans. However, the region remains underinvested, while COVID-19 has materially widened the equity gap, increasing the opportunity for the Fund to have a strong positive impact on the local community.
FRIF III provides the platform from which Foresight provides both capital investment and expertise to support the development of sustainable, socially conscious small businesses in the region.
Matt Pomroy, Director at Foresight Group, commented:
“Our investment into Rooms & Views will help the business continue to support the economy across North and South Wales, by creating valuable skilled employment opportunities. Additionally, at a time when energy savings have never been more important, the Company’s products serve as a vital tool to support the creation of more energy efficient homes and buildings, helping families and businesses make vital savings.
We are also pleased that David Leng will be joining the board of Rooms and Views as non-executive Chairman. David brings a wealth of experience in the sector from leading industry companies including Eurocell, Synseal and Customade.”
Kevin McClure, Managing Director at Rooms & Views, added:
“I am excited about our future with Foresight. I believe working together will help to drive the business even further forward and accelerate growth, secured by a strong, financially sound and extremely well managed organisation.
“My commitment has always been to deliver our products effectively and efficiently for the benefit of our customers, and to generate employment opportunities to stimulate future growth of the business – with Foresight’s help and resources behind us, we will unlock the potential to achieve even greater success.”
Advisers to Foresight:
- Financial Due Diligence: WR Partners
- Legal Due Diligence: Knights PLC
- Commercial Due Diligence: RPL
- Recruitment: Brightbridge Search
- Management Due Diligence: Catalysis
- Insurance Due Diligence: Lockton
- Cyber Due Diligence: KryptoKloud
Advisers to Rooms and Views:
- Accountants: McLintocks
- Legal: Gateley