BGF has announced the exit of its minority investment in Brownhills Glass, one of the UK’s leading independent glass merchants and processors.
BGF invested £2.9m in the Walsall-headquartered company in 2015 to support the acquisition of Durham-based Peterlee Glass, helping extend its presence into the North East. The funding has also supported investment in a new manufacturing site for Peterlee, expanding its capacity. Brownhills will now continue its growth strategy with new investment from Duke Royalty, a provider of alternative capital solutions.
Brownhills Investments serves trade customers, architects, interior designers, construction professionals and private home owners throughout the UK. Its products and services range from the supply of plain glass from stock to sophisticated processing, and it holds extensive stocks of plain glass, safety glass, fired glass and horticultural glass, available for next day delivery using its own fleet of vehicles.
Mark Harrison, Group Managing Director of Brownhills, said: “We’re pleased to be announcing the new phase of our growth plans with Duke Royalty. BGF’s funding and support enabled us to complete the acquisition of Peterlee, which was an important step forward in expanding our coverage nationally.”
Gurinder Sunner, BGF said: “Brownhills put our funding to work through developing a new site, and upgrading production facilities, and growing through acquisition. We’re pleased to have supported the team for the past three years, and wish them well as they embark on the next stage of their growth.”