Sep 06, 2021
Lexington is pleased to announce that it worked as the lead corporate finance advisor to the shareholders of Victorian House Window Group Limited (“Victorian Sliders”) on its £14 million minority investment by BGF.
Victorian Sliders, based in Ammanford, is a market-leading end-to-end manufacturer and supplier of uPVC sash windows to trade customers throughout the UK using its Ecoslide brand. Established in 2005, Victorian Sliders is led by its founder and CEO, Scot Starkey. With a strong focus on customer service and reliability, Scot and his team operate from a purpose-built 240,000 square foot production facility.
The Lexington team was led by Tom Coombes, Director, with support from Pablo Shorney, Senior Manager, who worked closely with Scot and Ian Cunningham (CFO) to complete the minority investment – this is the third recent transaction that Lexington has completed with BGF.
The significant investment from BGF will enable the management team to double production capacity and further invest in its recycling plant, helping it to cement its position as Europe’s largest specialist manufacturer of uPVC vertical sliding sash windows. Victorian Sliders is expecting to deliver over £30 million turnover this year.
Scot Starkey commented “We are delighted to have secured this investment from BGF, while also benefiting from BGF’s unparalleled business expertise. Victorian Sliders offers an unrivalled service in the replacement of sash windows. The business has been built on a strong product offering and we have constantly invested in our facilities over the years. Today’s funding from BGF will enable us to realise our growth potential and, along with Ian Cunningham and the rest of the management team, we are extremely excited about the future.”
He continued “Tom and the team at Lexington provided much-needed support in obtaining this investment from BGF. They worked closely with our team to ensure a streamlined process was maintained, and were reliable and present at every stage of the process. Finally, a special thanks to Lexington’s Managing Director, Gary Partridge, for his counsel and support in the years leading up to this investment which I’ve really valued.”
Tom Coombes said “It has been a pleasure to advise Scot and the business on its investment by BGF. From the very outset, BGF demonstrated a real understanding of Scot and VS’s ambitions. We are delighted for Scot, Ian and the wider management team, and believe that this investment will allow Victorian Sliders to continue on its exciting growth trajectory.”
Edwin Davies, Investor at BGF who has joined the board, said “It’s a great time to work with an ambitious business such as Victorian Sliders. The company has an impressive product range and some very exciting growth plans, which we are looking forward to helping them deliver. We’re particularly excited about investing in a Welsh manufacturing business, as the country is home to many of the UK’s most ambitious growth economy companies. Through the provision of equity investment and our board support, we’re sure Victorian Sliders is destined for an exciting future.”
Mark Huxtable also joins the board of Victorian Sliders at completion as Non-Executive Chair. Mark has significant experience in manufacturing through his 30-year career at Nuaire and was introduced to BGF and Scot by Gary Partridge.
Victorian Sliders was also advised upon by Capital Law (Legal) and Parisi (Tax).