Praesidian Capital Europe, a provider of senior and subordinated debt and growth capital in the UK and Northern Europe, has invested first lien debt in SASH-Fitrite Group, a provider of uPVC windows, doors, conservatories and decking across the UK.
The funds support the June 2016 acquisition of the company by management investors John Ross and Nick Liburn and the realisation of their growth plan.
Yorkshire-based Ross and Liburn were formerly CEO and group finance director of Safestyle UK, respectively.
SASH-Fitrite is a manufacturer of u-PVC windows, doors and conservatories as well as decking and fencing. With a 50-year history, it operates one of the largest manufacturing facilities in North England and supplies its products across the UK to trade and commercial customers, which range from local builders and installers to trade merchants and leisure home park operators.
Ross says: “SASH-Fitrite is a long-established and successful fabricator in Yorkshire which provides Nick and myself with the ideal platform to take advantage of the growth opportunities in the market. Our partnership with Praesidian and their flexible capital allows us to realise our plan and evolve the business further where the founder shareholders left off.”
Christian Heidl, partner of Praesidian Capital Europe, adds: “SASH-Fitrite is a well-established Yorkshire business with a manufacturing and trading history in excess of 50 years. We have developed an excellent relationship with John and Nick over the last months and look forward to backing them and SASH-Fitrite in its next phase of growth.”
Jason Drattell, founder of Praesidian Capital, says: “We are pleased to welcome SASH-Fitrite to our portfolio of companies. SASH-Fitrite is Praesidian Capital Europe’s seventh investment in the fund, and we are excited about the opportunity to provide support for this investment and to work with the company going forward.”
