Barnsley door and window manufacturer with 160 staff acquired by investment firm

Investment firm Modular Group Investments has acquired window and door manufacturer Euramax Solutions after receiving a £4m invoice discounting facility from Bibby Financial Services (BFS).

Michael Garratt, founder and CEO ofModular Group Investments, says Euramaxticks all of the boxes.

Barnsley-based Euramax services both commercial and residential businesses in the UK and Ireland. It specialises in PVCu windows and covers developments of all sizes across a number of sectors including modular constructor, DIY and home improvement, and the holiday home and leisure markets.

The business runs all of its operations from a manufacturing facility in Barnsley, South Yorkshire, where it employs 160 members of staff.

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BFS worked with Modular Group to help support its acquisition of Euramax. The investment firm sees Euramax as a strategic acquisition as it continues to expand its portfolio within the modular building space.

Michael Garratt, founder and CEO of Modular Group Investments, said: “At Modular Group we look to invest in high-quality, progressive businesses with a clear roadmap for growth.

"Euramax ticks all of these boxes and is exactly the type of business we want to work with as we expand our footprint in the Modular Manufacturing space."

Modular Group was introduced to BFS by Neil Sharp of TML Finance and Advisory, who helped to broker and structure a deal that enabled the acquisition of Euramax. The funding facility freed up the necessary working capital for the deal.

Chris Farnworth, regional head of corporate at Bibby Financial Services, said: “By working closely with Michael and TML Finance, we were able to help Modular Group unlock the necessary cashflow to fund the acquisition in the most efficient manner possible. The future of Euramax is in very safe hands and we’re very happy to be working with Modular Group to help them realise their ambitions in the sector.”

Mr Garratt added: “BFS has been an excellent partner in supporting the acquisition. Chris and the team took the time to understand the intricacies of the deal and were subsequently able to help raise the necessary funds in to facilitate the acquisition.”

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