News: Home Decor completes MBO

Rotherham-based Home Décor, one of the leading suppliers of sliding door and interior solutions in Europe, has been purchased in a management buyout (MBO) led by the company’s executive team.

Home Decor supply into retail, distribution, new build construction and online markets.

Originally formed as Acmetrack in England in 1975, the business was acquired by The Stanley Works Inc in 1987 and sold seventeen years later, at which time it was renamed Home Decor GB Ltd.

With its parent company part of the Cerberus Investment Group, the manufacturer made the move from Drakehouse in Sheffield to the Woodhouse Link development on the site of the former Laycast Foundry at Fence, just over the Rotherham border, in 2013.

The deal was for an undisclosed sum and the new owners include: Jason Limbert, Chief Executive Officer; Neil Martin, Contract Sales Director; and Jon Griffiths, Sales & Marketing Director.

Full-service accountancy firm, Shorts, played a pivotal role in structuring the deal and guiding the process.

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Jason Limbert said: "This is a defining moment for Home Decor as the Executive team increase their minority shareholding to take full ownership of the company. We are grateful for having been given this opportunity by Cerberus Capital Management and for the financial support and vote of confidence of HSBC to enable our ability to achieve it.”

“We would like to thank Shorts, especially Chris Alsop who has worked tirelessly on our behalf to structure a deal that satisfied all parties. We would also like to thank David Leonard our Relationship Director at HSBC who has been supportive of the business over many years and has worked with us to achieve a funding solution to enable the Executive team to take full control of the company at such a significant point in the company’s journey.”

“Paul Trudgill at Knights has also done a fantastic job of guiding us through the legal process, similarly David Robinson at Shorts has been great guiding us fully through the tax considerations of the transaction.”

“Under the full control of the Executive team, who collectively bring over 40 years of service, we look forward to continuing to implement our strategic plan that will continue to deliver growth, creating even more security for our valued Home Decor team.”

Chris Alsop added: “It has been a pleasure to assist the shareholders with this transaction. Home Decor has a strong reputation within their sector and we look forward to providing continued support throughout the next chapter of the company’s growth.”

Home Decor website

Images: Shorts

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News: Jobs boost as plans in for stalled Rotherham development

An employment site in Rotherham that was "sterilised" by previous HS2 proposals is being revived with plans for new units that could be home to 150 new jobs.

Active in Rotherham with popular schemes such as Vector 31, industrial developer, Network Space (formerly known as Langtree), is now driving ahead with new plans to revive the Woodhouse Link development in the South of the borough.

Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, had only just opened its 110,000 sq ft state-of-the-art factory at Woodhouse Link, when in 2013, HS2 announced that a route for the high speed line to a station at Meadowhall would cut straight through the site off Retford Road, which is just inside the Rotherham borough.

Developer Woodhouse Link LLP (a joint venture partnership with JF Finnegan and Laycast Ltd) undertook a complete demolition and remediation programme to facilitate a brand new industrial and distribution park on the site of the former Laycast foundry.

A switch of the preferred HS2 route through Rotherham, the undeveloped plots went on the market in 2017.

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The latest plans submitted to Rotherham Council are for four units of varying size which total close to 118,000 sq ft. The employment and distribution development would provide the opportunity for 150 new jobs, although potential occupiers are not yet known.

The full planning application, drawn up by Spawforths and DLA Design, details that the units would be able to be used for B1(b) (Research and Development), B1(c) (Light industry), B2 (General Industrial) and B8 (Storage and Distribution)> It also includes ancillary office use, associated car parking, service areas and landscaping.

Sized at between 16,000 sq ft and 49,000 sq ft, the mix of unit sizes has been carefully considered to provide various options for end users.

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The plans conclude: "The proposals will make a significant contribution to the creation of a strong, competitive local economy. The site is located within a sustainable area of strong market interest and which has already seen success in employment and logistics operations.

"The scheme presents an opportunity to achieve much needed employment growth within the area and will deliver substantial economic benefits, providing significant inward investment, positive economic growth and significant job opportunities for the Aston, Aughton and Swallownest areas and further afield."

Network Space website

Images: Network Space / DLA Design

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News: Woodhouse Link back on the market

The remainder of an employment site in Rotherham that was "sterilised" by HS2 proposals has been brought back to the market as the Government is minded to accept revised proposals that move the route through South Yorkshire.

Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, had only just opened its 110,000 sq ft state-of-the-art factory at Woodhouse Link, when in 2013, HS2 announced that a route for the high speed line to a station at Meadowhall would cut straight through the site, which is just inside the Rotherham borough.

Developer Woodhouse Link LLP (a joint venture partnership with JF Finnegan and Laycast Ltd) undertook a complete demolition and remediation programme to facilitate a brand new industrial and distribution park on the site of a former foundry.

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Real estate adviser GVA has now been instructed to bring two remaining plots of land to the market which extend to around 2.98 and 5.26 acres. Outline permission was secured in 2009 for a mixed use development comprising A3/A4 (restaurant/pub), C1 (hotel), B1 (business), B2 (general industrial) and B8 (storage and distribution) uses.

Rob Oliver, director at the Leeds office of GVA, said: "Woodhouse Link is a very well located employment site, and the two plots offer the opportunity to develop units of varying sizes.

"Frustratingly, development and marketing went on hold when this site was on the proposed HS2 route, but thankfully it now appears that the route has been moved east of our site.

"Despite not actively marketing the sites during this period, occupiers have regularly enquired after the site, but we have been unable to take those further.

"I am now in talks with a number of developers who are interested in the plots, and look forward to seeing the remainder of the scheme developed in due course."

Following a period of consultation, a final decision on the HS2 route through South Yorkshire is set to be made later this year.

Woodhouse Link website

Images: GVA

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News: Home Décor continues growth through acquisitions

Rotherham-based Home Décor, one of the leading suppliers of sliding door and interior solutions in Europe, has acquired Surrey-headquartered Optiplan Kitchens and Wiltshire-based Manor Cabinet Company.

Home Décor Innovations, whose parent company is part of the Cerberus investment group, has operating companies in the UK and Italy and manufacture over one million doors per year, supplying hardware to manufacture a further one million doors to strategic partners throughout the rest of Europe, The Middle East and Africa.

The acquisition, for an undisclosed sum, will see a £50m turnover business created with more than 350 staff.

The manufacturer made the move from Drakehouse in Sheffield to JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence, just over the Rotherham border, in 2013.

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Integrated into a new group, the business will be headed-up by Home Décor's existing chief executive Max Crosby-Browne. The growing firm bought Portico (Midlands) Ltd in 2014.

Paul Limbert, an Optiplan executive, will take the chief operating officer title for the company, whilst commercial director Mark Gledhill will become the sales and marketing director of the new kitchen business. Neil Martin joins the business as sales director for the expanded group.

Max Crosby-Browne, CEO at Home Décor, said: "This acquisition is a hugely exciting move for Home Decor and an important strategic step in achieving our growth plans. We will now have two distinct business units which together can offer customers a more integrated offering. The three businesses are a great fit in terms of culture, product offering and market sectors.

"Our focus is now on working in partnership with Optiplan and Manor's existing management teams to ensure a smooth integration over the coming weeks and months."

The acquisition was funded by investment from Home Decor's majority shareholder, Cerberus Capital Management, alongside a new funding package from HSBC. Home Decor's Head of acquisitions, Nick Clarke, with banking support from Chris Alsop, relationship director at HSBC Corporate Banking. Financial due diligence was undertaken by a team from BDO, led by Bob McDermott.

Home Décor website

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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

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News: High demand for grade A industrial space

Take-up of grade A industrial and logistics space across Yorkshire rose to 2.3m sq ft in 2012, almost double the amount acquired than the previous year, according to the latest research by commercial property experts, Lambert Smith Hampton.

31% of overall take-up was focussed on the high specification, grade A space but despite this, total take-up fell to 7.4m sq ft in 2012, a drop of 27% on the previous year and its lowest level since 2007.

However, only 8% of the stock now available on the market is grade A, which is largely comprised new build logistics units over (100,000 sq ft) across South Yorkshire, where there is currently an oversupply.

Robert Whatmuff, head of Industrial and Logistics in the North at Lambert Smith Hampton, said: "The lack of stock is holding back the market and occupiers of small and medium sized units are struggling to find any suitable space to accommodate their future plans. Occupiers now have very limited options, with no speculative development occurring over the last few years and the flight to prime mentality in terms of recent occupier requirements.

"This has left us with less than one months supply of small to medium grade A accommodation. In the larger size ranges this is less of an issue as there remains a strong supply of Grade A units over 100,000 sq ft, particularly in South Yorkshire. We have witnessed an increase in Design & Build from those occupiers with more bespoke requirements however, for the smaller occupier this is generally not an option that is palatable or deliverable.

"There is already a shortage of choice for occupiers and, due to the lack of speculative development, occupiers will struggle to find suitable properties either in terms of location or specification."

One significant Design & Build development in the region last year was the completion of the new home for Home Décor Innovations. The manufacturer has moved into a 110,000 sq ft state-of-the-art factory at JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence in Rotherham.

Despite the 27% fall in take-up, the research showed that every major centre across Yorkshire registered growth in prime rental values, a trend expected to continue. In Rotherham prime rental values increased slightly to £5 per sq ft.

Lambert Smith Hampton website

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News: Henderson delivers a 150% return from innovative property transaction

A complex, and profitable, property transaction by Henderson Global Investors led to Home Décor’s relocation to Rotherham.

Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, recently opened its 110,000 sq ft state-of-the-art factory at JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence.

In 2006, Henderson acquired the leasehold for an 88,000 sq ft warehouse on Beighton Road in Mosborough, Sheffield, which was let to Home Décor under a ten year lease from May 2006 for £5.7m.

Having identified the site as an opportune potential for supermarket development, Henderson acquired the freehold in 2010 in order to explore this opportunity. Terms were then agreed to sell the site to ASDA, subject to ASDA obtaining an outline planning consent for a food store and Henderson relocating the Home Décor business to a new site.

Terms were agreed to acquire the land at Fence and enter into a "turn-key" transaction with the landowner, Finnegan. The detailed specification was agreed to a very high standard.

Construction completed in November 2012 and lease terms for the new facility were duly agreed with Home Décor taking a new 15 year lease. In December 2012, following Home Décor’s relocation of its entire business operations, the Mosborough land was sold to ASDA for £16m, who will now develop a new 90,000 sq ft food store.

Cameron Fraser, director at Henderson Property said: "This complex project involved a number of parties, including the original freeholder, ASDA, Sheffield City Council, Home Décor, and Henderson, who were all required to work cohesively in order to achieve the end result.

"To achieve a change of use to a food store, to locate, and build a new industrial unit and to relocate our existing tenant on time and on budget is a real testament to the principle team across the project.

"Not only have we been able provide Home Décor with a brand new unit (including a category B fit out) which is more suitable for Home Décor's business growth ambitions, we have also paved the way for a new ASDA development which will deliver a number of employment opportunities to the local area. To deliver the project all the way through from a speculative and ambitious idea at the origin is truly satisfying."

Henderson was advised by Howlings Hodgson and Lambert Smith Hampton (LSH).

Home Décor website
Henderson Global website

Images: Henderson Global

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News: Home Décor opens "dream" facility in Rotherham

Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, has opened its 110,000 sq ft state-of-the-art factory in Rotherham.

With around 120 staff, the manufacturer has made the move from Drakehouse in Sheffield to JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence.

Developer Woodhouse Link LLP (a joint venture partnership with JF Finnegan and Laycast Ltd) has undertaken a complete demolition and remediation programme to facilitate a brand new industrial and distribution park.

A deal with Henderson Global Investors for the purchase and construction of the property has created 91,500 sq ft of high-tech workshop space in addition to 21,600 sq ft of offices/showroom space.

Max Crosby-Browne, CEO at Home Décor, said: "The new facility is 10% larger than our current site, it has been designed and purpose built to our exact specifications. We have worked very closely with our landlord in order to realise our dreams.

"The new site will provide us with the much needed space to effectively house our ever expanding business.

"The new site will see significant investment from the introduction of new plant, new manufacturing processes and flows, through to the introduction of a purpose built interactive showroom which will stylishly present our products. We hope that our investments for the future will not only help to increase our efficiency, but will also support our continued commitment to quality and Customer Support."

Home Décor Innovations, whose parent company is part of the Cerberus investment group, has operating companies in the UK and Italy and manufacture over one million doors per year, supplying hardware to manufacture a further one million doors to strategic partners throughout the rest of Europe, The Middle East and Africa.

Their products are available through major retailers including B&Q, Wickes, Focus and Homebase in Europe, and suppliers to the construction industry.

The current site in Sheffield is being sold to ASDA so they can develop a new superstore.

Home Décor Innovations website

Images: hdhc.com

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News: Knight Frank encouraged by Rotherham deals

South Yorkshire's logistics and industrial market saw an "encouraging" first half of the year – and the forecast is looking promising for the rest of 2012, according to research by commercial property experts, Knight Frank.

For units in excess of 50,000 sq ft, the market saw take-up of 835,200 sq ft in from January to June - almost on a par with the full year total for 2011.

Key transactions included Next taking 263,000 sq ft in Doncaster to accompany their massive Manvers operation and Home Décor taking 110,000 sq ft at Woodhouse Link in Rotherham.

Rebecca Schofield, partner at Knight Frank, said: "The results for the first half of the year have been encouraging. As recent pre-lets such as Home Décor at Woodhouse Link demonstrate, occupiers are now pursuing design and build to satisfy their requirements.

"In broad terms, however, design and build remains uncompetitive in the region as favourable terms are on offer on standing stock, particularly in premises of 150,000 sq ft plus."

Knight Frank also welcomed the news that world-renowned engineers, Rolls-Royce has begun the construction of a state-of-the-art manufacturing facility on the Advanced Manufacturing Park in Rotherham.

Rebecca added: "As well as creating 150 jobs on the site, the development is also likely to start to generate activity in the local supply chains and we can expect this to manifest itself in property market activity.

"Rolls Royce's commitment to the area is very positive as it demonstrates the region's growing capability as a centre for advanced manufacturing.

"Over the next three to five years, it is hoped that the Enterprise Zone will help to capitalise on this growing strength by securing a mix of international manufacturers through incentives such as business rates relief and enhanced capital allowances.

"There are also currently a number of buildings under offer from a broad range of sectors, including distribution, manufacturing and recycling, suggesting that the solid activity witnessed in this first half of the year is likely to be repeated in the second."

Prime headline rents in Rotherham are expected to remain the same at £4.75 per sq ft for lettings of up to 50,000 sq ft and £4.50 for lettings above 50,000 sq ft.

Knight Frank website

Images: Knight Frank

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News: Work begins on Home Décor's Rotherham facility

Work has begun on the 110,000 sq ft state-of-the-art factory for Sheffield-based Home Décor on the Woodhouse Link development in Rotherham.

As revealed on Rothbiz last year, Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, is set to expand into new premises in Rotherham.

The developers, JF Finnegan has now completed a deal with Henderson Global Investors for the purchase and construction of the property which is on the site of the former Laycast Foundry at Fence.

The site was vacated by Laycast after their operations closed in 2006 and from 2008 onwards developer Woodhouse Link LLP (a joint venture partnership with JF Finnegan and Laycast Ltd) has undertaken a complete demolition and remediation programme to facilitate a brand new industrial and distribution park.

Home Décor is relocating from its current base at Drakehouse in Sheffield to the new facility which will offer 91,500 sq ft of high-tech workshop space in addition to 21,600 sq ft of offices/showroom space. JF Finnegan will start on site this month, utilising its extensive design and build capabilities to create the new premises which will be completed in December 2012.

The current site in Sheffield is being sold to ASDA so they can develop a new superstore.

Nick Gillott, director at JF Finnegan, said: "To have secured an agreement with a global investor and a local tenant as the first occupier at this exciting scheme is fantastic news for all parties involved as well as the local area which will benefit from the revival of the redundant site. This takes us a step closer to realising our goal of transforming the site into a major business and industrial hub which will create employment opportunities and attract inward investment into the area."

The company was renamed in 2004 when the the senior managers of the mirrored door division of Stanley Tools acquired the business in the USA.

Now part of the Canadian Renin Corporation and with a turnover of £22.9m for 2010, Home Décor has operating companies in the UK and Italy. They manufacture over one million doors per year, and supply hardware to manufacture a further one million doors to strategic partners throughout the rest of Europe, The Middle East and Africa.

Their products are available through major retailers including B&Q, Wickes, Focus and Homebase in Europe, and suppliers to the construction industry.

Max Crosby-Browne, CEO of Home Décor, said: "The new premises will match our growth ambitions as a business and it's a great location for our existing employees in the Sheffield area."

With 120 staff, Home Décor expects that the move can significantly increase turnover and the number of employees in the next five years.

Nigel Howard, head of Real Estate at DLA Piper in Sheffield, advised J F Finnegan on the project. He said: "Commercial development remains a rare occurrence in the current market so it is particularly satisfying to see this agreement come to fruition and for work to start on site. The area has been ripe for redevelopment for a number of years and, thanks to its location and scale, lends itself perfectly to a number of occupiers. A stone's throw from the M1 and able to offer all the space it needs, it is the ideal development for Home Décor Innovations."

Home Décor website

Images: JF Finnegan

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News: Home Décor Innovations plan Rotherham move

Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, is set to expand into new premises in Rotherham.

The planned move will see Home Décor's existing 120 staff relocate over the border from Sheffield and provide the company with space to expand and create more new jobs.

Currently based at a 65,000 sq ft factory on a site at Drakehouse, Sheffield, the company plans to move into a purpose built 110,000 sq ft unit at Woodhouse Link, the development on the former Laycast site at Fence in Rotherham.

Sheffield company, JF Finnegan are developing the project which is now set to include a 91,500 sq ft workshop plus 21,600 sq ft offices and possibly a CHP (combined heat and power) plant on the site.

The pre-let to Home Décor covers the whole area that Finnegan had outlined as Phase 2 of the 15 acre scheme.

Home Décor Innovations is a part of Canada's Renin Corporation and with operating companies in the UK and Italy, they manufacture over one million doors per year, and supply hardware to manufacture a further one million doors to strategic partners throughout the rest of Europe, The Middle East and Africa.

Their products are available through major retailers including B&Q, Wickes, Focus and Homebase in Europe, and suppliers to the construction industry.

The current site in Sheffield is being sold to ASDA so they can develop a new superstore. Plans for the store were approved by Sheffield Council and sent to the Secretary of State for confirmation in August.

Peter Buchanan, Chief Executive of Home Décor Innovations, stated in a letter to Sheffield Council regarding the planning permission of the Asda store, that the development "would directly contribute to fulfilling our future plans by allowing us to relocate to improved new premises. This would match our ambitions as a business whilst creating more new jobs at Home Décor."

The company will benefit from a new purpose-built building as the current building is considered to be outdated and a larger showroom is needed. The funding from Asda will allow the company a one-off opportunity to move, and to replace much of the old equipment.

With new Rotherham premises, it is hoped that Home Décor can significantly increase turnover and the number of employees in the next five years which will provide a boost to the local economy.

Last week, members of Rotherham Council's planning board agreed that planning permission for Home Décor's new premises should be granted. The move is likely to happen quickly as a legal agreement is being developed that would mean that the development of the supermarket at Drakehouse cannot commence until Home Décor has relocated into a purpose built new factory in the local area.

Home Décor Innovations website

Images: Home Décor

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