DLA Piper has advised H.I.G. Europe, the European affiliate of private equity firm H.I.G. Capital, on its acquisition of Synseal Extrusions, a UK-based supplier of PVC-U windows, doors and conservatories.
Synseal Extrusions was acquired from its founder, Gary Dutton MBE.
The transaction will see the management team of Synseal, led by chief executive officer David Leng, take a significant equity stake in the business.
H.I.G. will work closely with management to support the company’s existing growth strategy focused on retaining and winning new customers, as well as help the business to increase its penetration in the new build and commercial property markets.
H.I.G.’s total funding into the deal amounted to GBP30.5m.
The team from DLA Piper advising on the deal comprised David Raff (partner), Sean Scanlon (partner), Alex Griffith (partner) and David Gerber (associate).
Raff (pictured) says: “We are delighted to have completed this deal, which represents a great outcome for H.I.G. and Synseal. Our expertise in the private equity space is based upon a distinguished track record of advising on more mid market transactions than any other law firm. We are able to bring invaluable international relationships and market knowledge to deliver exceptional value for our clients.”
Paul Canning, managing director at H.I.G., adds: “We are very pleased to announce our investment in Synseal, a best in class business led by an excellent management team. We believe that with the resources we bring coupled with this team, Synseal is well placed to drive consolidation in the market and to harness its position as a leading supplier in the UK.”
