BGF exits Brownhills in Duke Royalty-backed deal

The transaction will see Duke Royalty invest an initial £6.5m, with an option to invest a further £1m before the end of 2019.

Following BGF's initial investment three years ago, the company has bolted on Durham-based Peterlee Glass, for which it invested in a new manufacturing site.

The latest transaction will enable Brownhills to acquire the remaining 70% stake it did not previously own in London-based glazed partitioning supplier Tufwell Glass.

Previous funding
BGF invested £2.9m in Brownhills in March 2015 to support the bolt-on of Peterlee.

Company
Established in 1977, Walsall-headquartered Brownhills supplies glass to homeowners and trade customers including architects and interior designers. It provides plain glass, safety glass, fired glass and horticultural glass.

People
BGF – Gurinder Sunner (investor).
Brownhills Glass – Mark Harrison (group managing director).

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• BGF (Business Growth Fund)