“The Epwin Group and Latium have merged with immediate effect to create Epwin Holdings, a 275million turnover building products group.”
To be honest, I’m a little bit gutted I didn’t know anything about this! But I’ll get over it!
My immediate reaction was one of surprise. But then again, we all expected further consolidation of the double glazing market, and this announcement goes to prove what many people were thinking.
The name ‘Epwin Holdings’ interests me. In the tweet it says there was a merger, but the retention of the Epwin name makes me wonder if Epwin Group actually bought out Latium. And if there was a buy-out, my next question would be about potential job losses. Will there be any? If so, how many? When would the axe fall?
How much of Latium is likely to be retained? Would Latium be swallowed up by Epwin? Will their products disappear over time? Will Epwin take on some of Latiums best products and improve and focus on them?
These are just my initial thoughts and questions on the matter. Once more details are flooded into Twitter and the online magazines, I’ll be able to make a better judgement on this announcement.
UPDATE: here is the press release from the Ewpin Group:
The Epwin Group and Latium have merged with immediate effect
Including established Epwin brands, Profile 22, Swish Window and Door Systems, Swish Building Products and Sierra amongst others, alongside Latium companies Spectus, Kestrel-BCE and glass processing business CET – the agreement creates a new group with a combined turnover in excess of £275m.
With more than 2,500 employees, the company, Epwin Holdings, will be led by a new senior board chaired by Epwin Group founder Jim Rawson and including Latium owner, Brain Kennedy, the existing shareholders.
Jim Rawson, chairman, Epwin Holdings, said: “This is a major opportunity for the UK building products industry. In bringing together many of it’s leading businesses, in a British run, British owned group, we have the resource to invest in individual brands, product innovation and service, grow our business and most importantly, support our customers across sectors in doing the same.”
He added: “We don’t expect any significant changes to the operational structure of Group businesses in the medium term – this is very much business as usual for customers, employees and suppliers.”
The Epwin Group was founded by Rawson in 1976. Floated on the Stock Exchange in 1987, it was brought back into private ownership in 2000. More than a decade on, it continues to deliver a lead in technology and sustainable innovation to the UK building product industry.
Latium companies, owned by entrepreneur and investor Brian Kennedy were acquired, in part, from Heywood Williams in 2005.
Funding for the merged group has been provided exclusively by Barclays Corporate, Bristol.
Brian Kennedy said: “There is a very strong commercial fit between Latium and Epwin businesses and the merger creates tremendous new opportunities for both employees, customers and suppliers.”
“It has both the stability and financial resource to see out challenges and to secure new opportunities, something which we are confident will deliver advantages for not just it’s member businesses but customers and the building products industry more broadly.”
For further information visit www.epwin.co.uk
I hope that all the mentions of new opportunities and chances for growth and prosperity come to fruition. There have been too many company take overs, not just in the window industry but all others, where job losses has been the immediate focus. It says in the statement that in the medium-term, there will be no changes in regards to employees. But it does leave the door open a little bit in terms of long-term restructuring. But all in all, a very positive statement. I wish all companies involved the best of luck!
>3 or 4 profile systems companpies under one roof. Surely they`ll not keep them all going! Selling Zoom conservatory probably had something to do with the merger,Can,t have Ultraframe, wendland and zoom all fighting for the same customers…
>It is business as usual at Ultraframe and for its customers. We are not part of the Latium/Epwin merger, and will continue as an independent and seperate company. It is a strong brand and will continue to service our loyal customers, and we are looking forward to developing the the light and space market.
>It makes me laugh that you're annoyed that you didn't hear this news early. You are suffering from the delusion that you somehow have your finger on the pulse of our industry. Nothing could be further from the truth; it's clear from your blog that, most of the time, you're blissfully unaware of what's going on out there. Granted, you occasionally get wind of a rumour that turns out to be true and which – because you're desperate to be seen as a credible commentator – you publish early. Even then you invariably cock it up, publishing falsehoods that you… Read more »
>Anon (no. 2) – Is this what you would say to a major news company that broadcast rumours and confirmations about major companies going into administration? If rumours are out there, then one way or another employees are going to hear about them. And in this day and age, no matter how much research you do into a rumour, nine times out of ten companies are not going to comment on these rumours, thus, journalists predict that they are in fact true. Rumours are the start of a news story. If you hear a rumour, you do research, which is… Read more »
>Dear Anonymous Let me respond independently and with no connection to this blog or the blogger, however your response had ME laughing… First and foremost, if you're going to comment in this way, why not have the balls to reveal yourself? Your reply attempts to give the impression you are in the same business (lets hope for the sake of your customers, you're not if this is how you react to something you don't agree with). Quote: "To be honest, I'm a little bit gutted I didn't know anything about this! But I'll get over it!" You didn't suppose there… Read more »
>Anon. (no. 3) I agree with you. Anon (no.2) if you do not like it then do not read it. the blog is an optional site to read and purely his opinion, sometimes you agree and sometimes you don't.
>Mmm nice corporate statement from no.2 , but Utraframe are owned by Latium and by default are part of the merger. This isn't a bad thing of course as it will have better scope to tap into the fabricators that Epwin have,but it's no surprise to see them try and desperately fend this news off with some smoke and mirrors!
>my two penneth!
A Web site on which an individual or group of users record opinions, information, etc. on a regular basis.
I think that kills Anon2 rather "emotional" response out of the water somewhat
Won’t be too long before mass redundancies. It will probably start very early next year. Epwin are all about cost cutting and are extremely blinkered and protective of their base in Paignton. If Paignton runs short on figures, they’ll take the capacity from elsewhere and put it there, closing down the other businesses in the process.
looks like its started already……
Bye Bye Spectus, ive had many good years working for them, but its down fall was when Harry McClurg riped them off 4 MILLONS OF POUNDS out the business without them knowing, and they still let him get off with it, so Thank U HARRY McCLURG