Clearview North July 2014 - Issue 152 - Page 28

INDUSTRYNEWS FIVE YEAR CREDIT FACILITY TO SYNSEAL Proventus Capital Partners III has provided a 5-year GBP £46 million credit facility, including both a term loan and acquisition facility to Synseal Extrusions Ltd (“Synseal”). It will be used to refinance existing debt and to continue to fund the buy-to-build strategy. Synseal is the leading manufacturer of extruded PVC-U window and door profiles, sealed glass units and conservatory roofs, operating from three facilities in the Midlands. The firm has revenues in excess of GBP 100 million and employs more than 900 staff. It is owned by the mid-market private equity firm H.I.G. European Capital Partners LP (“H.I.G.”) and management, both with significant industrial experience and both of whom continue to support the company in i ts next phase of growth. “We are delighted to be working again with Proventus,” says Paul Canning, MD of H.I.G. European Capital Partners. “We believe it is the perfect partner to sit alongside and support H.I.G. and management’s plans to grow the business organically and through market consolidation.” David Leng, Synseal’s CEO, comments: “Proventus has delivered a flexible package that allows Synseal to accelerate our organic and acquisitive growth.” email mark.schlotel@synseal.com BUSINESS MICROS MOVES TO NEW PREMISES Business Micros has moved its Warringtonbased sales and installation team to a new purpose-designed office in nearby Newtonle-Willows. The new office, which was been stylishly converted from its original use as a pub, has been planned to meet the specific needs of the leading software specialist, with both private and open plan areas, a mezzanine floor and of course the very highest specification telephone and broadband system. Managing Director Graeme Bailey says the location is perfect for the business, right at the heart of the north west’s motorway network, and the building itself provides a much improved working environment for the team. He says: “We’ve got more space than we had previously and we’ve got the opportunity to accommodate new staff as we continue to grow.” As well as the Newton-le-Willows office, Business Micros also has a large programming and technical support centre based in Penpont, Dumfriesshire. Business Micros is among the largest suppliers of software to the window industry in Europe and now has more than 30 staff based at three locations across the UK. Tel: 01925 296105, www.businessmicros.co.uk Derogatory article sparks campaign backed by bi-fold business A new dedicated bi-fold business has backed a campaign to promote the North East as a successful manufacturing hub following an article published in the Guardian, in which feature writer Andy Beckett compared England’s North East to Detroit in America, which has a declining manufacturing base. TWR Bifolds, which launched in April this year as a dedicated resource for installers to find information about, and buy, aluminium Bifolds, is putting its weight behind the campaign that highlights the benefits of the North East as a place of manufacturing excellence. 28 JUL 2014 TWR Bifolds, part of the TWR Group, is a national supplier of market-leading aluminium bifold doors but is proud of its roots in the North East where it has been in business for 14 years. Terry Richardson, MD, comments: “The article made a number of incorrect assumptions and showed a complete lack of research and knowledge. This region has its issues like many others, but there are many manufacturing and business success stories here, such as ours.” Terry has called on other North East businesses to back the campaign. The North East is the only region in England with a positive balance of trade in the export market, exporting £14 billion worth of goods annually. To read more, visit www.clearview-uk.com