Mayfair buys majority stake in garage door group Garolla

Founders David Wilkinson and Graeme Pogue, who established the company in 2017, have fully exited their stakes in the business, a source familiar with the situation told Unquote.

Under Mayfair's ownership, the company, which provides a full end-to-end service supplying roller garage door, will look to expand its products and D2C franchise model in the UK and Europe, the source said. This would complement its existing presence in Manchester, Leeds, Glasgow, Nottingham and Bristol, among others.

Organic growth will be the priority for the company, although it could also consider bolt-ons opportunistically to help fuel growth, the source added. Mayfair's operations team will work closely with managing director Mark McAvoy and his management team to support the growth,.

Garolla is the ninth investment from Mayfair Equity Partners II, which raised GBP 650m in 2019. The fund is dedicated to investing in consumer and technology businesses, mainly in the UK, and provides around GBP 20m-50m in equity per deal.

Knights' corporate team has advised on the deal, according to press reports.

Mayfair declined to comment.

Company
Garolla operates more than 130 franchisees in the UK and the Republic of Ireland, providing consumers with the ability to design custom-fitting roller garage doors manufactured by the company and installed by its franchisee base. The company was founded in 2017 and is headquartered in Leeds.

Garolla has had 85%+ revenue CAGR and 250% EBITDA CAGR over the last three years (FY19-FY21) at market leading EBITDA margins, according to a press release.

People
Garolla – Mark McAvoy (managing director)
Mayfair Equity Partners – Neil Price (managing director)

Advisers
Equity – DC Advisory (M&A)

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• Buyouts
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• Mayfair Equity Partners
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