Friday, March 21, 2014

News: Home Décor slides in on rival


Home Décor GB has completed its first acquisition since moving into a new state-of-the-art factory in Rotherham by purchasing rival, Portico (Midlands) Ltd.

Home Décor is one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe and Portico is a supplier of similar products within the new build sector.

The deal was arranged after Home Décor secured multi-million pound funding facilities from Santander Corporate & Commercial. Funding for the acquisition was arranged by Duff & Phelps Debt Advisory.

With around 120 staff, Home Décor made the move last year from Drakehouse in Sheffield to a purpose built 110,000 sq ft factory at JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence.

Originally formed as Acmetrack in England in 1975, the business was acquired by The Stanley Works, Inc in 1987, and then subsequently sold in 2004, at which time it was renamed Home Décor GB Ltd.

The firm, whose parent company is part of the Cerberus investment group, currently manufactures over three hundred thousand doors per year, predominantly to the DIY and Builders Merchants sector, and supplies hardware to manufacture a further one million doors to its strategic partners throughout the rest of Europe, the Middle East and Africa. Its products are available through major retailers including B&Q, Wickes, Focus and Homebase in Europe, and suppliers to the construction industry.
The strategic acquisition is expected to see the combined entity – to be branded Home Décor – to have annual sales reach £30m, up from £22m for the financial year 2013. Portico currently sells and supplies a range of similar products, including floor-to-ceiling sliding doors and storage systems into the new build sector and online, which opens up new delivery channels to Home Décor.

Max Crosby-Browne, CEO for Home Décor GB, said: "Home Décor 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. We see strong opportunities for the business going forward, and continue to be very optimistic about our potential for growth."

Craig Williams, relationship director for Santander Corporate & Commercial, added: "Home Décor is one of the strongest businesses in its sector and I'm delighted that we have been able to support the company as it looks to take itself to the next level. We have been thoroughly impressed with the management team in Sheffield and look forward to a successful working relationship."

Home Décor website

Images: Home Décor


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