Newly formed investment group, DW3 Products Group (DW3), which is backed by private equity firm NorthEdge Capital, has acquired Window Widgets, and Eclectic Systems.
Window Widgets was founded in 2004 and has become the first port of call for key components for the window, door and conservatory sectors. Eclectic Systems is best known for developing the fast-growing, revolutionary Residence 9 (R9) window system. The two businesses have been acquired from Dan Gill, who will now take on the role of CEO of the DW3 Products Group Window Division and join the main DW3 Board.
The acquisitions bring the total number of companies within the DW3 Products Group to four, with the new additions sitting alongside Solidor and Nice Door Panels. Each business shares similar distribution channels, thereby enhancing the Group’s geographical reach and distribution capabilities.
The acquisitions follow investment from private equity firm NorthEdge Capital in November 2014. Their investment provided support for Gareth Mobley and the management team to pursue its buy-and-build strategy, which has seen the creation of DW3 Products Group.
At a time when building products are manufactured overseas and shipped into the UK, DW3 is proud to be a firm supporter of innovative British manufacturing businesses, which are providing home grown employment opportunities.
Gareth Mobley, CEO of DW3 Products Group, says: “This is fantastic news and an incredibly exciting investment for us. Under Dan’s stewardship, R9 has grown exponentially over the last three years, while Window Widgets has become hugely important as an industry favourite for fabricators from all corners of the UK and Ireland. Dan has an exceptional talent for developing truly game-changing products. The combination of our know-how and shared passion to re-define the industry we know so well creates significant potential for the Group.
“The introduction of Dan as CEO for the Window Division will provide us with prodigious expertise in terms of product design and engineering. The acquisitions will have a transformational effect on the Group and, we hope, on the wider industry. We have a lot up our sleeve, so installers and fabricators can look forward to more revolutionary products in the near future.”
Dan Gill, CEO of DW3 Products Group Window Division, says: “This is an incredibly exciting investment for us and one that has considerable scope for development. It means that we can fast track some new product launches and blossom into a fully-fledged systems house as we build the wider group through organic growth and acquisition. I am really looking forward to joining the board of DW3 and working alongside Gareth and the great team that has been built.”
DW3 has firm plans in place for additional investments during the course of 2015 and beyond. The Group has quickly established itself as one of the most exciting in the home improvement sector and, with four acquisitions in four months, the benchmark has been set.
Jon Pickering and George Potts led the deal for NorthEdge Capital. Ray Stenton, Partner at NorthEdge Capital and Non-Executive Director at DW3 Products Group, says: “We are pleased to be able to support Gareth and his management team in delivering their buy-and-build strategy for the Group, which will only further strengthen DW3’s position in an exciting part of the home improvement market.”
DW3 and NorthEdge were advised by Dom Orsini and Mark Smith of Altium, Chris Heatlie at BDO, Steve Heath of KPMG and newly promoted Partner Andy Phillips, of Pinsent Masons.
