Following on from the announcement that Anglian would step in to fulfil existing Everest 2020 orders after the collapse of the company, Everest’s administrators have announced that Anglian Home Improvements have reached a deal to acquire the assets and intellectual property of Everest.
Anglian acquires assets
Here is the statement that was published on the Resolve Group’s website:
Anglian Home Improvements (trading as ASHI Group Ltd), the UK’s leading home improvement company, has today completed a transaction which sees it acquire the customer order book, brand and intellectual property, and certain other assets from Everest 2020 Limited (in administration).
Cameron Gunn, Chris Farrington and Lee Manning, Partners at ReSolve, were appointed joint administrators to Everest 2020 Limited (“Everest” or the “Company”) on 24 April 2024.
The transaction ensures that where possible Everest customers impacted by the Company’s insolvency will have the opportunity to have their home improvement projects carried out in full by Anglian Home Improvements.
Anglian Home Improvements manufactures a wide range of home improvement products at its factory in Norwich, and is responsible for the employment of circa 1,500 people across the UK. It has over 40,000 living space orders under warranty and 400,000 orders of windows and doors under warranty. These products are installed throughout Britain from the North of Scotland to Cornwall.
Anglian is proud to achieve the Made in Britain accreditation, which showcases the best in British manufacturing. As a company that has been manufacturing its own products for over half a century, Anglian is proud of its British heritage and is focused on raising the standard across the industry.
Peter Mottershead, executive chairman of Anglian Home Improvements, said:
“Since the announcement last week that Anglian had reached agreement with the joint administrators to take on the Everest 2020 order book, our customer service teams have been working hard to make contact with all customers impacted to review the status of their orders and where possible progress their project. Having been manufacturing and installing home improvements for around 60 years, we are looking forward to helping them transform their homes.”
Cameron Gunn, joint administrator of Everest and senior partner at ReSolve, commented:
“We are pleased to have completed the transaction with Anglian which will provide much needed certainty to customers over their home improvement projects. We will continue to provide support to the affected employees throughout this process.”
Three becomes one
In the space of just seven months we have seen the “big three” reduced to just a single entity. Anglian Home Improvements now owns the Safestyle and Everest brands as well as both orders books and all other assets each company was able to offload. How many of us thought this would be the outcome even in the middle of 2023?
It does mean that from a consumer perspective the amount of choice has been reduced, something that the relevant agencies might want to look at in the future. And although many of us, including myself, derided how they conducted their sales practices and methods, their marketing activities did generate leads for the wider market which ultimately benefitted smaller companies who could provide a better service. That marketing influence has now gone.
As I have explored in previous articles, the business models of these types of companies simply did not work in today’s market. Consumers are spending less on new windows and doors this year as they did last year, with the post-lockdown boom firmly out of sight. The high-volume/low-margin models were particularly exposed as demand cooled, costs rose and inflation ran rampant. From an outsider’s point of view, there was very little work done to radically change these models and the end result was two out of the three national brands have gone to the wall, with hundreds of job losses as a result.
Industry watchers will now observe Anglian and how they manage merging these two brands in the coming years. Are they going to be able to adapt to a very different market place? Their business model is similar to that of Safestyle and Everest. They will face the same pressures and circumstances. They will have to make changes themselves if they are to stick this period out.
Read the full statement here: https://www.resolvegroupuk.com/news/anglian-home-improvements-completes-transaction-to-acquire-everest-2020-assets/
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