Unless it’s a paid sponsored article by one of my advertisers, I don’t often publish press releases. But, given the hyper nature of the rumour mill last week, I think this one is worth publishing on here. This is the latest news from the Synseal Group:

Synseal Group completes refinancing for next stage of growth

Following the recent acquisition of Village Glass, the Synseal Group has now completed a refinancing with the support of its current investors and funders, H.I.G. and Proventus, who have provided substantial further funds to continue their support for the growth and integration of the group. The refinancing has resulted in a significant strengthening of the group’s balance sheet and ensures that Synseal is positioned to solidify its market leading positions in PVC-U profile and conservatory roofs, and to take advantage of its strategic growth areas of glass, entrance doors and aluminium window and door products.

Synseal Group

The Synseal Group has developed from a £70m turnover extrusion business prior to the MBO in 2010 to a £160m turnover multi material supplier to the fenestration industry with market leading positions in PVC-U and aluminium window and door systems, GRP and timber doors, Insulated glass units for windows and roofs. Conservatory roofs and portal frame structures. The group now employs over 1500 people across seven sites. For more information please refer to the Synseal website at www.synseal.com or contact David Leng – CEO.

H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with more than €20 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro. H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G. equity funds invest in management buyouts, recapitalisations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G. debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com


Proventus Capital Partners is an active credit investor and loan provider to Northern and Western European companies in need of capital for expansion, acquisition financing, restructurings and refinancing. Proventus Capital Partners also conducts investments in publically traded corporate credits. The funds of Proventus Capital Partners have combined assets of EUR 2.5 billion and are managed by Proventus Capital Management AB, which is owned by management.
For more information, please refer to the Proventus website at www.proventuscapitalpartners.se

Not quite what the rumours were suggesting last week, were they?

DGB Features

Hype of the rumour mill

Quite often the hype of the rumour mill turns out to be something very different to the actual truth of the matter. Internally, the industry has been whispering to itself about this and that about Synseal, much of which turned out to be very different from what the press release above states.

Quite often, these things start by someone else, assuming something and looking to make the most of it. Then the whisper train begins and almost always comes to nothing, as appears to be the case here.

It’s clear some at Synseal saw the funny side once the news was announced…

There is a serious side to all of this, and that is the people that work at the company being speculated on, and those it serves. No doubt that rumour and whispering will have been going on at Synseal offices internally, and their customers might well have been on the other end of the phone asking awkward questions. We have to remember that it is very easy for people to panic when things like this arise. As it turned out, there was absolutely nothing wrong and the company is fine. But it’t the people that make the company function that should be considered before rumours are launched by others.

You have to question why these things start up in the first place. Often they can be caused by someone else looking to spot a chance to gain a competitive advantage by sowing a bit of chaos. Sometimes they can spring up by chance simply because of some misinformation. Granted, there is a lot of internal turmoil going on in the industry right now, most of it in the upper echelons of the sector. But not here, far from it. Synseal will be hoping now that they can get back to business as usual.

To get weekly updates from DGB sent to your inbox, enter your email address in the space below to subscribe: