STP Group Ltd (United Kingdom) - Nov 2007

Endless has acquired timber door manufacturer STP Group Ltd in a £12.5m buyout deal from Royal Bank Development Capital. Endless invested £6.4m alongside a working capital and an asset-based lending facility provided by Five Arrows Commercial Finance. The deal sees Endless own the entirety of the share capital with plans to sell a stake to management in due course. STP is described as having completed a turnaround strategy and is now on an upward curve after the implementation of a development programme initiated by management. Endless believes that the company is well-placed to benefit from the on-going growth in the ‘done for you’ sector.

Company

Based at New Mills in Derbyshire, the business currently generates annual turnover of £23m and employs a workforce of more than 200. It is one the UK’s largest manufacturers and distributors of timber doors and stairs. STP’s distribution service has depots strategically located in Manchester, Leeds and Bristol. It primarily serves the joinery and building trades and is understood to be a key growth area for the company. STP’s craftsmen manufacture its products from sites in New Mills and Wakefield.

People

Warwick Ley, Neil Baishnab and Ian Plumb led the deal for Endless.

Advisers

Equity - Ernst & Young, Nick Hatton (Other Due Diligence)Equity - Eversheds, Jonathan Robinson (Legal)Equity - TMG Corporate Finance, Phil Travis (Corporate Finance)

Sourced from: UK & Ireland unquote" 359 (Dec 2007)

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• Industrials
• United Kingdom