Next Wave Partners acquires Roof-Maker for £30 million
Funds managed by Next Wave Partners LLP (“NWP”) have today acquired Roof-Maker for £30 million from its founders Rachel Owen and Scott Nicholas. Roof-Maker, based in Leicester, UK, is a fast growing, vertically integrated, UK-based omni-channel retailer of premium, high performance rooflights, skylights and bi-fold doors. Pricoa Capital Group (“Pricoa”) provided senior debt and also invested in the transaction. Rachel Owen and Scott Nicholas have re-invested alongside NWP and banking partner, Pricoa, along with members of the existing management team. The business will continue to operate from the facilities in Leicester and Mr Nicholas will remain in the role of Chief Design Officer. Ms Owen and Mr Nicholas started the business in 2001 with a £5,000 investment. Over the last 15 years, Roof-Maker has enjoyed rapid and continued growth to become a market leader.
“When we founded the business, our goal was to produce products and services that we would want from a supplier ourselves” commented Rachel Owen.
“Rachel and I have really enjoyed building up Roof-Maker over the last 15 years into the leading manufacturer and supplier of rooflights in the UK” said Scott Nicholas “However, we recognized that the time was right to find a strong partner with experience of growing businesses such as ours, in particular developing export opportunities. We are very excited about the future and looking forward to working with the NWP team, Pricoa and the Roof-Maker management team over the coming years to achieve more success together.”
“In a market underpinned by government legislation surrounding CO2 emissions and our desire for greater natural light (and space) in our homes, Roof-Maker offers contemporary, high quality, bespoke products with superior thermal insulation and solar gain efficiencies delivered to site within days of being ordered.”
“Roof-Maker is a pioneer in its market and primarily sells direct to end-users undertaking home improvements and renovations across the UK. We were impressed with the degree to which the business has harnessed the internet to drive sales, thereby disrupting and bypassing traditional and established routes to market with its leading social media presence.”
“We are delighted to have been able to invest in such a great company and are excited by the opportunity to work with the management team to take the business to the next level” said Dean MacKenzie, Partner of NWP.
“Roof-Maker has been an amazing success story and we want to build on that success moving forward.” said Paul Mildenstein, CEO.” With Next Wave Partners and Pricoa’s support, I feel very confident we have found the right partner to grow the business domestically and internationally.”
NWP has a track record of significantly growing businesses they have acquired and the new investors plan to further accelerate the growth of Roof-Maker by developing new areas of opportunity and investing in new products, markets, facilities and equipment.
Roof Maker Ltd is a well established company having traded successfully since 2001, the company owns the two acre manufacturing site and neighbouring factories that it trades from. Operating from a land mark architectural award nominated building in Leicester the business pioneered the manufacture of high performance glass units in overhead glazing structures. Roof-Maker Ltd designs its own unique aluminium and PVC extrusions, having intellectual property right protection on it’s products and profile designs. We offer a 20 year limited warranty on all glass rooflight products featuring our own Reflex sealed glass units. With over 50,000 rooflight products manufactured and installed across the UK the company has growing export sales with products being installed as far as Dubai. Major investment over the years has allowed us to manufacture the glass units in house allowing us to control quality, performance and lead times, double and triple glazed units with walk on glass options are all manufactured on site to BS EN1279 parts 2 and 3. The Leicester factory has a 30mtr automated glass manufacturing production line capable of making argon filled glass units for rooflights up to 3000 x 1200mm in size and to volumes of a 600 a week.
Source: Next Wave Partners Press Release