Washington-based NE&C (North East and Cumbria) Windows & Doors has completed the acquisition of a husband and wife-run double glazing enterprise with a £6m annual turnover, first initiated in 2003. NE&C is an ardent creator of UPVC and aluminium doors, windows and conservatories.
The former owners, Ed and Heather Ramshaw, agreed to sell their 20 years old company so that it could explore brighter opportunities in the leadership of a new set of young and prospective team members. The amount of the entire congregation was not revealed.
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The 50 active NE&C Windows and Doors workers usually report at the company’s 16,500 sq ft unit in the Glover Industrial Estate. The firm has all the required amenities to design and produce a variety of UPVC or aluminium windows, doors and conservatories designated for residential or commercial purposes.
Founder of the family business, Ed Ramshaw, exemplified: “After 20 years we have seen our family-run business grow from strength to strength and we now feel it is time to pass on the baton to a younger yet highly experienced team to take the company forward.”
“The business will continue in safe hands as we complete a management buyout, which is set to take the company into a new phase and to generate further growth across all divisions with new customers already lined up,” Ramshaw attested.
Steve Allen, the acting manager for the longest period of time, has now been entrusted with the duty of the managing director. At the same time, Paul Readman will be commercial director, Rachel Parkin-Wade will now hold the directorial post in finance, and Michael Massey will be reinvented as operations director.
After age-long support in the financial part of the company, Heather Ramshaw narrated: “We wish to thank all our loyal workers, customers and suppliers who have supported us over the past 20 years. Without them, we simply couldn’t have done it.”
“We are immensely proud of our achievements and that we have been able to build such a respected North East company and go through this experience together,” she was grateful.
Michael Moran of Robson Laidler Accountants was the lead sale structure and tax advisor acting in alignment with the vendors. Legal mergers and acquisitions expert Jabad Jaigirdar of JLF Law Firm was very helpful in the legal process. The company’s management firm, Clive Owen Accountants, looked after the day-to-day affairs of the management team.
Ed Ramshaw continued: “Successful succession deals happen with the backing of expert advisers who have aligned goals. We cannot thank Robson Laidler Accountants and JLF Law Firm enough for guiding this seamless sale.”
JLF senior partner Jabad Jaigirdar added: “It was a pleasure acting for Ed and Heather; the sale represents a fitting reward for the founders having built a quality business with significant potential for further growth.”
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