In a major deal for the fabrication sector within UK fenestration, it has been announced that European fenestration giants Inwido have acquired a 70% stake in Dekko Windows.
Statement from Dekko Windows
Inwido, Europe’s leading window group with 29 business units across 11 countries, has acquired a majority stake in Dekko and now own a 70% share of the business.
The existing shareholders will retain a 30% share in the company and there will be no major changes to the management or wider team moving forward, with Gary Torr remaining as Managing Director.
This is very exciting news. Inwido only invest in the very best companies, and their financial backing will allow Dekko to invest in new products, increase our production and ultimately drive the business forward. We have several plans in the pipeline already and look forward to sharing these with you in due course.
Headquartered in Malmö, Inwido has been listed on Nasdaq Stockholm since 2014 and has operations in Denmark, Finland, Norway, Sweden, Austria, Estonia, Ireland, Lithuania, Poland and the UK. They have approximately 4,600 employees in eleven countries and achieved sales of SEK 7,725 million (£607 million) in 2021.
Their business concept is to develop and sell the market’s best window and door solutions through a decentralized management structure. This fits very well with Dekko, and we feel confident that this will be a good match.
The Dekko management team would like to take this opportunity to say a huge thank you to our staff, customers, suppliers and stakeholders and we look forward to a bright future.
For more information please read the press release issued on Inwido’s website.
Statement from Inwido
With the acquisition of Dekko Window Systems in the UK, specializing in windows and doors, entrance and folding doors as well as PVC patio doors, aluminium and composite materials, Inwido adds yet another successful business to Business Western Europe. The company has approximately 200 employees and a production facility in Greater Manchester. In the last financial year, the company reported sales of approximately SEK 280 million.
Dekko Window Systems Ltd was founded in 2008 by Gary Torr and Kurt Greatrex who are now selling their company to Inwido to ensure continued good development and expansion of the business. Dekko Window Systems sells their products to the consumer market, housebuilders and through architects within both commercial properties and new construction.
The company will continue to operate as a separate business unit in Business Area Western Europe while they, among other things, will be able to benefit from synergies with Inwido’s central purchasing organization as well as other business units in the UK.
“The acquisition of Dekko Window Systems strengthens our presence in the UK, which is one of Europe’s largest markets for windows and doors. We acquire a well-managed and successful business with a strong product offering and good organic growth potential. The acquisition is yet another step towards realizing our ambitious growth targets” says Henrik Hjalmarsson, President and CEO of Inwido.
“Inwido is a leading, responsible and successful window and door group that we are looking forward to becoming a part of. By boosting our business with Inwido’s competence and strength position, we see good opportunities to accelerate our own development and continue to win market shares in the UK market,” says Gary Torr, MD and one of the founders of Dekko Window Systems Ltd.
The acquisition of Dekko Window Systems Ltd is financed through available cash and will have a marginally positive impact on Inwido’s earnings per share during 2022. The purchase price is in line with Inwido’s usual multiples. The owners retain 30 percent of the shares for a period of at least three years. The purchase price for the remaining shares will be based on the future financial performance of Dekko Window Systems Ltd.
View original Dekko Windows statement here: https://www.dekkowindows.com/news/inwido-acquires-70-share-of-dekko
View original Inwido statement here: https://www.inwido.com/media/press-releases/inwido-continues-consolidation-journey-and-acquires-dekko-window-systems-ltd
What this demonstrates to me is that to Europe and the wider world, UK fenestration sector businesses continue to represent the country well and demonstrate good value in British businesses in our industry. I wish Kurt Greatrex, and both Dekko and Inwido all the best in this new chapter for both businesses.
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