NorthEdge invests in door firm as housing recovers

The private equity firm, which has offices in Leeds, focuses on investing in businesses in the North of England. It said one of the reasons for its investment in Solidor was the recovery in the housing market.

The investment will enable Solidor, which employs more than 130 people, to add to senior management and continue investing in operations, capacity and IT.

Jon Pickering, director at NorthEdge, told The Yorkshire Post: “The key reason for us was backing Gareth Mobley [chief executive of Solidor] and his vision and what he wants to do with the business.

“He’s done phenomenally well since starting the business.”

A factor in Solidor’s success is its willingness to embrace social media, Mr Pickering said.

“It generates a lot of leads. You can actually go online and design your own door,” he says.

Performance of Solidor has also been good. Mr Pickering said: “The sales of the business have grown considerably year-on-year.” Solidor declined to confirm its turnover.

On future plans for the business, he said: “We’re going to look to take a third warehouse next to the existing two in Stoke.”

NorthEdge is planning another investment in Yorkshire over the coming weeks, which they hope to tie up before Christmas. Mr Pickering said: “Currently my colleagues in Leeds are looking to complete an investment in Yorkshire over the next week.”

Speaking on the importance of the North in terms of investment he says that many of their competitors over look the North, praising the region for its industry. He said: “From our point of view we’ve built our careers in the North of England. This is where we were brought up.”

This is the fifth deal of the year for NorthEdge, representing nearly £70m worth of investment in businesses in the North.