London-based investment firm RDCP Group (RDCP) has acquired Somerset-based window, door, and conservatory manufacturer Majestic Windows.
The deal gives RDCP a 98% stake in Majestic Windows, a £2 million EBITDA business. The business consists of the manufacturing company Majestic Window Designs (MWD) and its sister retailing and installation company Majestic Designs (UK).
Funding to assist this latest transaction has been structured by SME Capital, represented by Stuart Watson and Neil Sharp, Director at TML Finance and Advisory, who structured the lending package to assist with the purchase.
Majestic Windows is a family run double glazing company based in Cheddar. From here the business manufactures all its windows, doors, and conservatories which are installed to meet the highest industry standards. Majestic has been in operation for over 20 years, with a focus in the Somerset area. Jim Martin, Majestic Designs (UK) Managing Director will remain with the business becoming Group Managing Director and work closely with RDCP leadership, Sameer Rizvi, Iryna Dubylovska and Paul Clunn.
Sameer Rizvi, Founder & CEO of RDCP Group explained: “Majestic Windows is our first acquisition in the manufacturing sector and is an important step forward for RDCP as we increase our strategic capital allocation towards UK manufacturing businesses. Majestic is a well-established business with an excellent reputation and customer base. We look forward to working with Jim and the team to expand the business further and help them deliver on the potential of their business.”
Jim Martin, Group Managing Director at Majestic Windows said: “For over 20 years, we have been serving Somerset homeowners with our outstanding service and building our reputation as the best in the business. We’re delighted to be joining the RDCP Group. This can only improve our service offering and we are looking forward with enthusiasm to what can be achieved.”
Stuart Watson, Regional Director, Business Development SME Capital said: “RDCP has identified Majestic Designs (UK) as another excellent acquisition. Majestic Windows has a first class reputation in the sector with a proven management team. The acquisition will take Majestic Windows to the next level of their growth strategy as RDCP will be able to support their geographic spread into Bath, Bristol & Exeter.
“We have been pleased to support RDCP in this further acquisition with a five year loan including a capital repayment holiday and bullet repayment structure to help with the initial integration and maximise cash headroom given continued macro-economic uncertainty. This is another introduction from Neil Sharp of TML Finance & Advisory. Also thanks to Matt Ingram & team at Squire Patton Boggs.”
Neil Sharp, Director at TML Finance and Advisory added: “RDCP continues to impress me with its growth trajectory. Sameer and Iryna recognise the future potential for Majestic Windows and this deal allows the business to continue with its ambitious growth plans. It’s also been great to work with Stuart Watson and the wider team at SME Capital to assist the smooth completion of the transaction.”
