Sat, 15 Mar 2014 | MERGER
Corporate finance adviser Duff & Phelps has secured funding for Home Decor GB’s purchase of Portico (Midland) Ltd.
Santander Corporate & Commercial is to provide a multi-million pound funding facility to Yorkshire firm Home Decor, a leading supplier of floor-to-ceiling sliding doors and storage systems to Europe.
Home Decor makes in excess of 300,000 doors a year, mainly to the builders’ merchants and DIY industries, and supplies the parts to make another one million doors to its strategic partners across Europe, Africa and the Middle East.
Established in 2002, Walsall-based Portico sells and supplies floor-to-ceiling sliding doors and storage systems to the new build industry and also runs an online store, which will give Home Decor a new route for delivery.
Duff & Phelps has indicated that once enlarged post-acquisition, Home Decor’s sales might rocket to over £30 million, from £22 million in 2013.
Max Crosby-Browne, CEO at Home Decor said: “Home Decor has benefited from strong demand for its products and services both in the UK and in Europe, and I’m delighted that the company is able to make this strategically significant acquisition to capitalise on this momentum."
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